Cayman Stock Exchange
The Cayman Stock Exchange (CSX) first opened its
doors in 1997 and hasn’t looked back once. In 1999 the CSX was
admitted to the London Stock Exchange’s list of approved
organisations. This was the first offshore exchange to gain this
designation.
Independent review by KPMG in October of 2000
declared the CSX to meet international standards in its
operations.
CSX’s listing rules have been designed to allow
the listing of specialist debt, depositary receipts, derivative
warrants, mutual funds and eurobonds. The exchange also provides a
facility for domestic companies to list trade, if they satisfy the
requirements. CSX includes a secondary listing facility for
companies trading on another recognised exchange.
To ensure the highest standards are met the
Cayman Stock Exchange has partnered with Bloomberg Financial
Markets providing global financial information. Bloomberg and CSX
have developed a fully electronic listing and trading service as
well as a dedicated news wire service. Trading is order driven,
displaying a buying and selling price throughout the day.
The CSX website (http://www.csx.com.ky)
mirrors information posted on Bloomberg and provides interactive
access to information and prices held by the Exchange.
Listing rules for eurobonds are one of the
latest developments at the Exchange. Designed for issues of debt
securities these bonds are usually purchased and traded by a
limited number of investors who are particularly well versed in;
- Investment matters and
- Cover ‘plain vanilla’ eurobonds,
- Convertible debt securities by
supranational bodies,
- Securities guaranteed by a
company or a government and
- Credit-linked securities
Keeping with the rules for specialist debt,
there are no requirements for a listing agent to be appointed in
order to apply to list eurobonds.
