Project Heather

Project Heather (Scottish Gaelic: Pròiseact Fraoich) is the proposed new Scottish Stock Exchange, planned to be established in Edinburgh, Scotland. The proposal for a new Scottish Stock Exchange was announced when the founding team reached agreement with Euronext to provide its Optiq trading engine to be the platform for the new market. The founding team noticed that the re-opening of the Scottish Stock Exchange was not one of the recommendations of the Growth Commission, and therefore commissioned its own research, undertaken by Momentous Change Ltd, on the history of the Scottish stock exchanges and the need now for a Scottish Stock Exchange 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[1]

'Project Heather'
Pròiseact Fraoich
TypeStock exchange
LocationEdinburgh, Scotland
Key peopleTomás Carruthers, Chief Executive
CurrencyPound sterling
Websiteprojectheather.scot

Once recognised by the Financial Conduct Authority, this will be the first stock exchange on Scottish soil since 1973, when listings on the Scottish Stock Exchange were taken over by the London Stock Exchange and the market in Glasgow closed.

Scottish identity

The choice of Scotland for Project Heather was determined by the founding team and reflects the Scottish Government's adoption of a National Performance Framework which incorporates the United Nations' Sustainable Development Goals and its commitment to a Well-being and a net zero carbon economy. Edinburgh is Europe's 4th largest financial centre.[2] Scotland has exceptional natural capital and is developing leadership in industries that are part of the globalised, green, social-investment economy.

Impact focused

This social stock exchange is to be the first in the world to be built to operate in its own right as a regulated investment exchange - focusing on businesses that make purposefully a measurable positive impact on social and environmental issues - a key pillar of inclusive growth, a key economic basis of the World Bank[3] and the Scottish Government.[4]

References
  1. Mullin, Millar, Thomson, Roger, John, Michelle (2018). A Stock Exchange for Scotland: Early background research. Edinburgh, Scotland: Momentous Change Ltd. ISBN 978-1-68454-770-8.{{cite book}}: CS1 maint: multiple names: authors list (link)
  2. "Edinburgh, Financial Services UK | Invest Edinburgh". www.investinedinburgh.com. Retrieved 3 June 2019.
  3. World Bank (2019). "What is Inclusive Growth?" (PDF). World Bank.
  4. "Growing the economy: Inclusive growth - gov.scot". www.gov.scot. Retrieved 3 June 2019.
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