By Jenna Jones From AST

The Cayman Islands Stock Exchange (CSX) has issued new listing rules for equities and investment funds, following its upgrade to the Deutsche Boerse XETRA trading platform.

Existing rules have been refined based on market and regulatory developments and new rules have been added to accommodate the nature of specialist companies, particularly mineral and shipping companies.

Investment funds, including exchange traded funds and forestry funds that may be seeking sophisticated investors have also been accounted for in the new listing rules.

New rules have also been established to provide adequate transparency and disclosure for the inclusion of retail investors, or those investing less that $100,000 in listed companies.

Modifications have also been made to the general rules, including expanding the eligibility provisions with new requirements for corporate advisors to act for equity issuers open to retail investment, and provisions for a fast-track procedure for the consideration of suitability for listing.

Nick Small, head of listings at the CSX, said: “We have issued new rules for equity securities that will benefit those specialist products that have specific listing needs and where Cayman has significant regional expertise, such as investment funds and shipping companies.”

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