www.csx.com.ky has released its first list of registered Listing Agents. Ten of Cayman's Leading law firms, accountancy firms and mutual fund administrators were approved.
The ten firms admitted as Listing Agents are, in alphabetical order, Ansbacher (Cayman) Ltd, Bank of Butterfield (Cayman) Ltd, Benbow Anderson & Co, Ian Boxhall & Co, CITCO Trust Company (Cayman Islands) Ltd, Hunter & Hunter, Maples & Calder, MeesPierson (Cayman) Ltd, Price Waterhouse and WS Walker & Co.
Issuers seeking to list their securities on the Exchange must use a Listing Agent to perform all the required due diligence work for the listing. Listing Agents are thus responsible for ensuring that applicants for listing comply with the listing rules and make complete and accurate disclosure to investors when their securities are first listed and also on a continuing basis.
"To avoid conflict of interest, two separate subcommittees of the Listing Committee met to review all applications. Only organisations with appropriate expertise and of suitable size were considered", said Anthony Travers, Chairman of the Cayman Islands Stock Exchange.
David Carrad, the Acting Chief Executive Officer, said he was pleased with the level of interest shown at this stage. "The participation of Listing Agents of the highest professional quality is essential in ensuring that the listings will be of the same highest quality," he went on to say.
After several years of planning and preparation by the Cayman Islands Government in cooperation with the professionals in the financial services sector, the Cayman Islands Stock Exchange opened 2 January 1997. The listing rules of the Exchange were specifically tailored for offshore mutual funds and structured financing vehicles. Other international debt securities, selected secondary listings and domestic securities will also be admitted to the list. Listing applications have already been received by the Cayman Islands Stock Exchange and will be granted in March.
For further information on the above please contact Jacqui Crane