SCOTEX

SCOTEX
Type Stock exchange
Location Edinburgh, Scotland
Founded Q1 2019
Currency Pound sterling
Indices SCOTS-30 Index
Website www.scotex.uk

SCOTEX is the proposed new stock market that plans to be established in Edinburgh, Scotland. The proposal for a new Scottish Stock Exchange was announced by a consortium of ex-NASDAQ and Scottish investors after the result of the United Kingdom's referendum on European Union (EU) membership, in which Scotland, and Edinburgh, voted in favour of remaining within the EU, when the UK as a whole voted to leave.[1]

This will be the first stock exchange on Scottish soil since 1973, when the Scottish Stock Exchange merged with the London Stock Exchange.

The Scottish Government has said it supports the proposals to bring an independent stock exchange back to Edinburgh, which is the 4th largest financial centre in Europe.

SCOTS-30 Index

SCOTEX will establish a list of the top 30 traded companies on the exchange. This will be similar to the London Stock Exchange's FTSE-100, in which Scottish business are not often represented.[2]

References

  1. ↑ McArdle, Helen. "Ex-Nasdaq traders bid to launch new stock exchange in Scotland by 2017". Herald Scotland. Retrieved 10 August 2016.
  2. ↑ "Exclusive: Scottish Government "welcomes" new Scottish stock exchange". Common Space. Retrieved 10 August 2016.
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