2017 was another record year for the Malta Stock Exchange having posted a 4.3 per cent increase in revenues and a cut of 2.3 per cent in operating expenses - the second straight yearly drop, which helped contribute to a 10.8 per cent jump in operating income.

After-tax net income rose by 3.2 per cent on the back of increases in 14 out of 21 revenue streams and a continued disciplined approach to spending, it said.

Trading volumes continued to come under pressure in spite of the Malta Stock Exchange doubling its trading hours to a more respectful 6-hours’ trading session.

“A number of steps are being taken to endeavour to increase trading activity and improve liquidity including revamping market making rules in the hope of attracting market makers to the Exchange,” it explained.

Last year, two new businesses were added including the Institutional Financial Securities Market or IFSM, a regulated wholesale market geared towards the listings of securitised products including asset back securities, convertible bonds, and insurance linked notes.

“For the first time in the MSE’s history the Exchange is in a position to cater to the needs of institutional investors. With the addition of the IFSM, the MSE can consider itself a full service stock exchange catering to the needs of both retail and institutional investors,” the Exchange commented.

On the training front, the Malta Stock Exchange Institute was inaugurated, with over 600 students attending some 32 courses.

As for corporate listings 2017 was a record year, with dozens of new issues emanating from both the Regulated Main Market and the Prospects MTF.

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