Listings

Our Listing team advises international and Cayman asset managers and fund promoters on all aspects of listing Cayman and non-Cayman funds on the Cayman Islands Stock Exchange (CSX). We also advise banks, funds and other financial service providers on the listing of debt and specialist securities.

Clients seek a listing on the CSX for a number of reasons. A listing can increase the potential investor base by enabling investment from regulated entities that require a listing as a pre-condition to their investment. It may also increase the visibility and standing of the investment product as well as providing investor comfort through the application of additional regulatory and transparency requirements.

We act as the registered agent for the CSX. We handle initial listings, applications for derogations from the CSX listing rules, and advise clients on their continuing obligations post-listing. Our service covers advising on the application of the CSX listing rules, ensuring that the listing particulars of the issuer comply with those rules, negotiating with the CSX concerning any required derogations, collating all relevant listing documentation, dealing with all local filings and acting as a point of contact for the CSX on behalf of the issuer.

The CSX is designated by the UK’s Inland Revenue as a recognised stock exchange under the UK Income Tax Act. This can result in tax benefits and may give the fund or debt issuer a wider pool of prospective investors. The CSX is an affiliated member of the International Organisation of Securities Commissions (IOSCO) and of the World Federation of Stock Exchanges and meets international best practice standards as a specialist stock exchange.

The CSX’s highly experienced team understands the time pressures involved in a specialist listing and provides a streamlined and progressive listing regime focused on meet the demands of its issuers. Combining a comprehensive set of listing rules, a commitment to very aggressive timing on processing listing applications and a flexible and proactive listing process, the CSX listing regime is highly transparent and user-friendly, contributing to and supporting the funds and debt industry both domestically and internationally.

The CSX imposes no restrictions on investment objectives and does not impose diversification requirements, preferring a disclosure-based approach to an issuer’s product rather than the imposition of unnecessarily onerous conditions.