UK HMRC Recognition

The Board of the UK HM Revenue & Customs has, as of 4th March, 2004, granted the CSX status as a 'recognised stock exchange' under Section 841 of the Income and Corporation Taxes Act 1988. This recognition enables companies whose securities are listed on the CSX to take advantage of the 'quoted eurobond exemption'. As a result, interest paid on securities listed on the Cayman Islands Stock Exchange can now be paid without deduction of UK tax

Among the categories of securities a personal pension scheme in the UK can hold are securities listed or dealt in on a 'recognised stock exchange'. Accordingly, CSX listed securities can now form part of the investments held by such personal pension schemes.

Similarly, securities listed on the CSX are now regarded as 'qualifying investments'. Most of the securities held directly in Personal Equity Plans (PEPs) and Individual Savings Accounts (ISAs) must be 'qualifying investments'.

The Inter-market Surveillance Group (ISG)

The Cayman Islands Stock Exchange is the only offshore exchange that is a member of the ISG, having been granted membership in 2001.

The ISG provides a framework for sharing information and coordinating regulatory efforts among its multinational members. Members of the ISG agree to share information with other members on surveillance, investigation and enforcement matters and on related practices and techniques.

The ISG was created in 1983 by the major U.S. securities exchanges in response to the growing need to share regulatory information related to the conduct of effective market surveillance. The proliferation of related products and derivative instruments created the need for a system of formalized, consistent procedures for the exchange of information across different jurisdictions. In 1990, futures exchanges and non-U.S. organizations were permitted to join the ISG to facilitate further information sharing. Today the ISG has grown to include over 50 organizations worldwide to include North American, Asian, Australian and European exchanges and exchange regulatory bodies, all of which have a common interest in ensuring that the securities and futures marketplaces are regulated effectively and efficiently.

International Organization of Securities Commissions (IOSCO)

At its 28th annual conference in Seoul, Korea in October 2003, the IOSCO Presidents’ Committee voted to approve the CSX as an affiliate member of IOSCO.

IOSCO is the world's most important international cooperative forum for securities regulatory agencies and is recognized as the international standard setter for securities markets. IOSCO develops and promotes key principles and standards in the area of securities regulation in order to maintain fair, efficient and sound markets. The organization promotes the exchange of information and mutual assistance and establishes standards for effective surveillance of international markets.

IOSCO's current membership comprises regulatory bodies from more than 115 jurisdictions that have day-to-day responsibility for securities regulation and the administration of securities laws and regulate more than 95% of the world's securities markets and includes all the major emerging markets. IOSCO has 64 affiliate members, comprising primarily Exchanges that exercise SRO functions.

World Federation of Exchanges

The CSX is an affiliate member of the World Federation of Exchanges ("WFE"), formerly FIBV, the leading international body for Exchanges and Clearing Houses. The WFE Market Structure Best Practices provide guidance to Exchanges world wide on the minimum level of organisation, regulation and supervision a securities market needs to qualify as an organised market.

Alternative Investment Management Association

The Cayman Islands set up its own AIMA Charter in April 2006 and the CSX joined as a full member. AIMA represents the global industry of alternative investments and its membership is significant, with over 1,500 corporate members worldwide. AIMA’s objectives are to enhance understanding, sound practices and industry growth for the alternative investment industry.

Quoted Companies Alliances

The CSX is a member of the QCA, a global, UK-based independent membership organization that champions the interests of small to mid-size quoted companies.