The Channel Islands Stock Exchange (CISE) is a company limited by guarantee although one share has been issued to the Advisory and Finance Committee of the States (ie Parliament) of Guernsey. That share gives the Committee the right to approve certain matters, without which approval of the action in question cannot be undertaken. Those matters include the change of location of the principle place of business of the CISE. The Members of the CISE, other than the Committee, do not hold shares and are obliged to contribute up to UK£10,000 to the assets of the CISE should it be wound up whilst a member or within a year of ceasing to be a member.
Members may be either trading members and/or listing members. A trading member may also (but is not obliged to) register as a market maker in listed securities. A listing member is eligible to sponsor securities for which a listing is sought. A sponsor is required for all types of listed securities, although a listing member may be either a
