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Cayman Islands Stock Exchange Still Booming

Tax-news.com

21 October 1999


The Cayman Islands Stock Exchange (CSX), the world's fastest growing stock exchange, is still booming.

The CSX started in July 1997 with a single listing and has since grown to 181 listings and a market capitalisation of US$16 billion, mostly from the mutual funds and debt securities sectors. At the current rate of growth the CSX estimates it will reach 300 listings and capitalisation of $20 to $25 billion by September 2000.

Apart from being conveniently located in a tax haven which is the world's 5th largest banking centre, the CSX has appealed to investors because of its low fees and quick turnaround times. With only 11 staff the CSX can list an offering in a week - a process which can take months on most major exchanges.

The CSX also got a big boost to its appeal earlier this year by being the first exchange in the region to be granted "approved organisation" status by the London Stock Exchange, thus making CSX listed securities quotable on the SEAQ (Stock Exchange Automatic Quotation) international trading system and tradable on the London Stock Exchange's international equity market.

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