International Property Securities Exchange (IPSX) is a new Regulated Investment Exchange regulated by the FCA and is the world’s first such exchange dedicated to the initial public offering and secondary market trading of institutional grade commercial real estate assets.
IPSX Wholesale is a market exclusively for institutional and professional investors and for issuers with an asset or assets that have a minimum market value in excess of £50 million.
The IPSX platform has been established with market leading technology partners which include Nasdaq, GoldenSource, Quant House and Scila. The platform has been integrated with leading trading technology and market data vendors including Fidessa, Iress and Morningstar.
IPSX has focussed on increasing the number of Trading Members ahead of launch and recently announced the admission of Clear Capital Markets, Hobart Capital Markets LLP and Pello Capital in London and new regional members, Liverpool’s Blankstone Sington Ltd and Midlands based Albert E. Sharp. They join IPSX’s existing Trading Members including Canaccord Genuity, WH Ireland, Panmure Gordon, Peel Hunt, Jarvis Investment Manager and the Share Centre.
For commercial property investors, IPSX transforms real estate investment, for the first time enabling direct investment in commercial property via a public market.
For real estate owners, IPSX delivers an alternative capital markets product on a fully regulated basis, unlike real estate tokenisation, expanding the universe of potential investors.
IPSX delivers new and attractive opportunities for both real estate owners and investors providing flexibility, liquidity and transparency along with speed of execution and real time valuation.
IPSX has been recognised by the Financial Conduct Authority as a Recognised Investment Exchange, providing both real estate owners and investors in real estate with the protections of a regulated market in property shares.
At its most simple, IPSX reimagines the connection between real estate owners and those investing in real estate.
How IPSX works:
IPSX operates two markets. IPSX Prime, admits to trading issuers owning underlying single commercial real estate assets or multiple assets which are, or proposed to be, securitised and traded on the Exchange.
Second market, IPSX Wholesale, is exclusively for professional commercial real estate investors and has been designed to provide real estate owners with a UK market that is capable of accepting a variety of different corporate structures within a flexible regulatory environment, including JV REITs.
In order to be admitted to IPSX Prime, the issuer needs to meet the Exchange’s Admission Standards. These include: the appointment of an IPSX Lead Adviser and Approved Valuer; selling down a minimum 25% of the Company’s shares at the point of admission; limiting the debt loan to value in the entity to 40%; and issuing a prospectus for approval by the UK Listing Authority. Download IPSX Prime Overview
IPSX Wholesale has been designed to provide real estate owners with a UK market that is capable of accepting a variety of different corporate structures within a flexible regulatory environment, including JV REITs. IPSX Wholesale is an MTF, a multilateral trading facility that facilitates the exchange of financial instruments between multiple parties. Download IPSX Wholesale Overview
Roger Clarke is the Managing Director and Head of Capital Markets.