The International Stock Exchange (TISE) has awarded its employees an exceptional £1,000 payment in recognition of the challenges posed by the rising cost of living.

The contribution was paid to employees across all of TISE’s operating jurisdictions, along with their October salary payments.

Cees Vermaas, CEO of TISE, said: “This additional contribution is in recognition of the rising inflation costs and impact upon cost of living that we have seen across all the jurisdictions we operate in over the last few months. Our success truly is founded in our people, and we hope that this demonstrates the value we place on supporting our employees during this difficult and challenging time.”

The one-off exceptional payment is not in lieu of any other salary or bonus payments and will be subject to standard tax and social security deductions.

It is also additional to the one-off 3% increase in salaries which the Company awarded to all staff in April this year to reflect the increase in cost of living which was already being experienced at that time.

TISE employs 35 members of staff who are based in Guernsey, Jersey and Dublin.