Above: Cayman

By the Caribbean Journal staff

The Cayman Islands Stock Exchange has signed an agreement with Deutsche Boerse for the use of its XETRA trading platform.

The new platform will go live at the Cayman exchange, CSX, in the beginning of 2013.

In a release, CSX said it intended to use the platform to develop its secondary market for equities, debt and other securities.

CSX recently published new listing rules targeting early-stage growth companies and mineral companies.

“The new trading platform is complementary to and enhances our current range of services, and connects us to a well-established global network,” CSX CEO VAlia Theodoraki said. “We are confident that our ability to list and trade a wide range of securities will prove attractive to users looking for a well-recognized, adaptable and highly-efficient system.”

CSX Chairman Anthony Travers said the XETRA decision came after the exchange “looked hard at alternatives.”

“We are convinced that establishing this relationship with Deutsche Boerse in the context of a fully-transparent, tax-free offshore financial centre with unrestricted capital movement will prove highly beneficial to investors,” he said.

Approximately 900,000 securities are currently traded on XETRA’s technology.