Type Stock exchange Founded proposed launch 2017 Indices SCOTS-30 Index | Location Edinburgh, Scotland Currency Pound sterling 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.
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 does not often be represented.