International law firm CMS has advised IPSX Group in securing a Recognition Order by the FCA for the launch of the International Property Securities Exchange (IPSX).
IPSX is the first and only regulated exchange dedicated to commercial real estate, and the FCA’s order grants it recognised investment exchange status. IPSX Group joins a small number of major international market infrastructure groups in operating a Recognised Investment Exchange (RIE) in the UK. Designation as an RIE represents the highest level of authorisation available to a market operator in the UK and is comparable to the regulation of the world’s largest stock exchanges. CMS has supported IPSX Group from the outset on the development and implementation of its ground-breaking concept.
Anthony Gahan, Founder and Chairman of IPSX Group said: “This is truly a landmark moment for real estate investment and a great example of fintech innovation out of the UK. From now on, every type of investor can access the returns from institutional investment grade real estate by buying and selling shares in issuers through IPSX.”
For the institutional real estate asset owner, IPSX provides an alternative public market option to a traditional private sale with the flexibility to retain an interest in the asset through a shareholding of the asset owning company.
CMS Corporate partner Cathy Pitt said: “In ‘reimagining real estate investment’, IPSX brings something fresh and exciting to the market. As a future-facing law firm with strong expertise across Financial Services, Equity Capital Markets, Real Estate and Commercial law, CMS has been ideally placed to support IPSX on its journey to becoming one of the few operators of a Recognised Investment Exchange in the UK. We look forward to continuing to work with IPSX and its potential Issuers.”
The CMS team was led by client relationship partner Cathy Pitt (Corporate) and Ash Saluja (Financial Services) supported by Rizwan Rahman (Corporate); Jennifer Gray (Corporate); Susann Altkemper (Financial Services); Jonathan Monks (Financial Services); Paul Silver (Commercial); and Ciaran Carvalho (Real Estate).
