Cayman Islands Stock Exchange
Encyclopedia
The Cayman Islands Stock Exchange (CSX) is a stock exchange
based in Grand Cayman
, Cayman Islands
. It started operations in July 1997 and is fully owned by the Cayman Islands government. The CSX was recognized by the London Stock Exchange
as an approved organization in July 1999.
Over 1,000 stocks
, eurobond
s, warrant
s and global depositary receipts are listed on the CSX. The Chairman of CSX is Anthony Travers
, a former Senior Partner at the law firm Maples and Calder
. The stock exchange is located at Elizabethan Square in downtown George Town
. The exchange uses a fully electronic trading platform
that was developed under a partnership with Bloomberg L.P.
The CSX was originally set up to provide a listing facility for the specialist products of the Cayman Islands – mutual funds and specialist debt securities. The CSX’s capabilities now extend to sophisticated vehicles and structures including the listing of derivative warrants, depositary receipts, Eurobonds, preferred shares and international equity. The CSX currently has more than 1,400 listings and a market capitalisation of more than $123 billion. Other key facts and recognitions for the CSX include:
Stock exchange
A stock exchange is an entity that provides services for stock brokers and traders to trade stocks, bonds, and other securities. Stock exchanges also provide facilities for issue and redemption of securities and other financial instruments, and capital events including the payment of income and...
based in Grand Cayman
Grand Cayman
Grand Cayman is the largest of the three Cayman Islands and the location of the nation's capital, George Town. In relation to the other two Cayman Islands, it is approximately 75 miles southwest of Little Cayman and 90 miles southwest of Cayman Brac.-Geography:Grand Cayman encompasses 76% of...
, Cayman Islands
Cayman Islands
The Cayman Islands is a British Overseas Territory and overseas territory of the European Union located in the western Caribbean Sea. The territory comprises the three islands of Grand Cayman, Cayman Brac, and Little Cayman, located south of Cuba and northwest of Jamaica...
. It started operations in July 1997 and is fully owned by the Cayman Islands government. The CSX was recognized by the London Stock Exchange
London Stock Exchange
The London Stock Exchange is a stock exchange located in the City of London within the United Kingdom. , the Exchange had a market capitalisation of US$3.7495 trillion, making it the fourth-largest stock exchange in the world by this measurement...
as an approved organization in July 1999.
Over 1,000 stocks
Stocks
Stocks are devices used in the medieval and colonial American times as a form of physical punishment involving public humiliation. The stocks partially immobilized its victims and they were often exposed in a public place such as the site of a market to the scorn of those who passed by...
, eurobond
Eurobond
A Eurobond is an international bond that is denominated in a currency not native to the country where it is issued. It can be categorised according to the currency in which it is issued. London is one of the centers of the Eurobond market, but Eurobonds may be traded throughout the world - for...
s, warrant
Warrant (finance)
In finance, a warrant is a security that entitles the holder to buy the underlying stock of the issuing company at a fixed exercise price until the expiry date....
s and global depositary receipts are listed on the CSX. The Chairman of CSX is Anthony Travers
Anthony Travers
Anthony Travers, OBE was the Chairman of the Board of Cayman Finance from 2009 to 2011. Travers is also the Chairman of the Cayman Islands Stock Exchange and former Senior Partner and Managing Partner of international law firm Maples and Calder...
, a former Senior Partner at the law firm Maples and Calder
Maples and Calder
Maples and Calder is the largest law firm in the Cayman Islands. As at January 2008, it is also the largest offshore law firm in the world....
. The stock exchange is located at Elizabethan Square in downtown George Town
George Town, Cayman Islands
George Town, Grand Cayman, is the capital of the Cayman Islands, in the British West Indies. The city has a population of 35,600 and is the largest city on Grand Cayman....
. The exchange uses a fully electronic trading platform
Electronic trading platform
In finance, an Electronic trading platform is a computer system that can be used to place orders for financial products over a network with a financial intermediary. This includes products such as shares, bonds, currencies, commodities and derivatives with a financial intermediary, such as a...
that was developed under a partnership with Bloomberg L.P.
Bloomberg L.P.
Bloomberg L.P. is an American privately held financial software, media, and data company. Bloomberg makes up one third of the $16 billion global financial data market with estimated revenue of $6.9 billion. Bloomberg L.P...
The CSX was originally set up to provide a listing facility for the specialist products of the Cayman Islands – mutual funds and specialist debt securities. The CSX’s capabilities now extend to sophisticated vehicles and structures including the listing of derivative warrants, depositary receipts, Eurobonds, preferred shares and international equity. The CSX currently has more than 1,400 listings and a market capitalisation of more than $123 billion. Other key facts and recognitions for the CSX include:
- In 2006, surpassing more than 1,000 listings before the 10-year mark, posting on average, double-digit listings growth each year since its inception
- In 2005, reaching break-even status a full two years before planned, allowing the CSX to become a positive contributor to Government’s finances
- In 2004, being granted 'recognised stock exchange' status by Inland Revenue in March 2004, greatly enhancing the CSX’s commercial appeal to UK investors
- In 2003, being admitted as an affiliate member of the International Organization of Securities CommissionsInternational Organization of Securities CommissionsThe International Organization of Securities Commissions is an association of organisations that regulate the world’s securities and futures markets....
(IOSCO) - In 2001, being the first (and still only) offshore exchange to become a member of the Intermarket Surveillance Group, a self governing association of exchanges and exchange regulators from around the world committed to information sharing and the enhancement of market surveillance procedures
- In 1999, becoming the first offshore stock exchange to be registered with the London Stock ExchangeLondon Stock ExchangeThe London Stock Exchange is a stock exchange located in the City of London within the United Kingdom. , the Exchange had a market capitalisation of US$3.7495 trillion, making it the fourth-largest stock exchange in the world by this measurement...