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Wholesale

IPSX Wholesale is a market for institutional and professional real estate investors. These are:

  • Eligible counterparties
  • Per se Professional clients
  • Elective Professional clients

Elective Professional Clients are broadly defined as a client that has expertise, experience and knowledge in light of the nature of the transactions envisaged, and is capable of making their own investment decisions and understanding the risks involved, and:

Has stated in writing to its broker that it wishes to be treated as a professional client either generally or in respect of a particular service or transaction or type of transaction or product;

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The broker has given the client a clear written warning of the protections and investor compensation rights it may lose;

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The client has stated in writing to its broker, in a separate document from the contract, that it is aware of the consequences of losing such protections

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IPSX Wholesale allows institutional and professional investors to buy property shares in IPSX Wholesale issuers meaning that they can acquire fractional ownership of much larger real estate assets which historically may have been more narrowly held or completely inaccessible to real estate investors.

IPSX Wholesale allows institutional investors to invest in commercial real estate without being trapped in complicated agreements or difficult arrangements with real estate owners.

Shares admitted to trading on IPSX Wholesale may now be traded under two trading models. Issuers admitted to trading on IPSX Wholesale will have the choice of which market model their shares are traded.

IPSX Wholesale allows institutional and professional investors to buy property shares in IPSX Wholesale issuers meaning that they can acquire fractional ownership of much larger real estate assets which historically may have been more narrowly held or completely inaccessible to real estate investors.

IPSX Wholesale allows institutional investors to invest in commercial real estate without being trapped in complicated agreements or difficult arrangements with real estate owners.

Shares admitted to trading on IPSX Wholesale may now be traded under two trading models. Issuers admitted to trading on IPSX Wholesale will have the choice of which market model their shares are traded.

Introducing a new Market Maker Model

Shares which trade under the Market Maker model will have at least one market maker who will provide firm two-way prices throughout the trading day against which investors can trade.

The Broker-Driven Model

Shares which trade under the Broker-Driven model will not have market makers. Instead, brokers will publish firm quotes for orders in such shares.

IPSX Wholesale has been designed to provide real estate owners with an onshore market that may accept a variety of different corporate structures, including JV REITs, within a flexible regulatory environment. It allows shares in companies holding commercial real estate to be admitted to trading on an onshore market.

Real estate investors will be able to access information at the single asset level that is not ordinarily available to investors in REIT shares. This will provide far greater transparency enabling investors to make better and more informed decisions about real estate investments. If the issuer is a REIT, the dividend distribution level will be driven by the requirements of REIT legislation.

Real estate investors will have access to higher yielding, higher risk investments than those available on IPSX Prime. The market is regulated by the FCA as a multilateral trading facility.

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Wholesale Key Points

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Contact

Roger Clarke

Group Chief Executive Officer

International Property Securities Exchange is the trading name of IPSX Group Limited. IPSX Group Limited (No. 08846330) is a limited company registered in England and Wales with a registered office at 20 Birchin Lane, London, EC3V 9DU, United Kingdom.

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