The Cayman Islands Stock Exchange is now allowing foreign firms to list there following a series of requests for the first time.
It is hoped that this will help encourage the growth of a larger trading market rather than letting the CSX continue primarily as a simple listing service.
The details of the new ruling are that an exempt or non-trading companies can now apply for listing, as can foreign company registered under Part IX of the Companies Law.
In a statement, the Cayman Islands authorities said: "The CSX is already in discussions with potential issuers with regards to their listing and the trading of their equity on the CSX and this is anticipated to take place in the very near future."
In 2002, the number of listings exceeded 700, representing a rise of more than 70% over the previous year. Its current total market capitalisation exceeds US$36bn.
The CSX is a private limited company owned by the Cayman Islands Government, but it is operated as an independent entity. The Stock Exchange authority is responsible for the policy, regulation and supervision of the CSX. The Authority reviews and must approve any rules which the CSX introduces.
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