Cayman Islands Stock Exchange: Listing Derivative warrants

The CSX: ‘Listing @ its Best’
Derivative warrants meet specialised investment needs and are usually issued by a third party, often using a Cayman Islands special purpose vehicle. Issues of derivative warrants may have to be listed to meet the investment requirements of institutional investors.
Rules which specifically facilitate listings of derivative warrants were introduced in March 1999 and were immediately met with great interest from major international financial institutions. The rules deal with issues of warrants that relate to equity securities, debt securities, baskets of securities and indices. These rules avoid duplication for the issuer by recognising that disclosure requirements can be significantly reduced where sufficient information on the underlying assets is already in the public domain enabling investors to form a reasonable opinion as to the value of such assets. Thus, where the underlying assets are already listed on a recognised exchange, the information required to be included in the listing document takes this into account.	Derivative Warrants Streamlined listing documentation for warrant programmes Competitive costs Speed Flexibility No listing agent required
Most of derivative warrants already listed on the CSX are under derivative warrant programmes, another very successful facility provided to the warrant market. The CSX has developed special streamlined provisions to accommodate issuers wishing to utilize such facility.

The CSX: ‘Listing @ its Best’

Derivative warrants meet specialised investment needs and are usually issued by a third party, often using a Cayman Islands special purpose vehicle. Issues of derivative warrants may have to be listed to meet the investment requirements of institutional investors.

Rules which specifically facilitate listings of derivative warrants were introduced in March 1999 and were immediately met with great interest from major international financial institutions. The rules deal with issues of warrants that relate to equity securities, debt securities, baskets of securities and indices.

These rules avoid duplication for the issuer by recognising that disclosure requirements can be significantly reduced where sufficient information on the underlying assets is already in the public domain enabling investors to form a reasonable opinion as to the value of such assets. Thus, where the underlying assets are already listed on a recognised exchange, the information required to be included in the listing document takes this into account.

Derivative Warrants

Streamlined listing documentation for warrant programmes
Competitive costs
Speed
Flexibility
No listing agent required

Most of derivative warrants already listed on the CSX are under derivative warrant programmes, another very successful facility provided to the warrant market. The CSX has developed special streamlined provisions to accommodate issuers wishing to utilize such facility.

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