Cayman Islands Stock Exchange goes on growing
Financial Secretary Kenneth Jefferson informed lawmakers that on January 29, 2007, the total number of listings on the Cayman Islands Stock Exchange stood at 1 263 with a total market capitalisation of nearly USD 113 billion.
Tabling the financial statements of the Cayman Islands Stock Exchange for the the last financial year ended on June 30, 2006. On March 5, 2007, Jefferson said that the Exchange has remained to be self-supporting and produce profit. Debt and Eurobond listings have also went on increasing on the exchange.
When talking to lawmakers, Jefferson highlighting the major achievements. Among them, he emphasized that new issues listed numbered 164, taking the total to 1 071 for the the last financial year ended on June 30, 2006. The total market capitalisation of these issues was USD 90.61 billion. Out of this amount, USD 75.65 billion related to mutual funds.
It is also important that the continued and significant growth in debt securities has remained during the last financial year, which is one of the results of the recognition received by the Cayman Islands Stock Exchange from the UK Inland Revenue in March 2004.
The Financial Secretary stated that Mourant Cayman Limited was the law firm to become a listing agent during the financial year and bring the total to 10 listing agents, 7 broker members and 14 registered representatives.
The Exchange revenue rose to USD 1.6 million surpassing forecasts and maintaining self-sufficiency. Jefferson noted that as the Cayman Islands Stock Exchange continues to be self-supporting, no funding from the Government is required.
The Cayman Islands were recognized by the London Stock Exchange in 1999 as part of its international trading system.