Listing on CSX
The CSX is a leading, globally focused specialist exchange which offers a personalised approach to listing applications within a highly regulated and innovative marketplace.
The CSX’s focus on being an efficient gateway to global markets has resulted in the CSX becoming known for the broad array of companies that access the CSX, including leading global financial institutions, emerging technology and life sciences companies, as well as some of the world’s most successful hedge funds.
The listing process essentially involves the review and approval of a listing document which must comply with the listing guidelines relevant to the particular type of securities issued by an issuer.
The listing process can be summarised into a number of steps as follows:
Appoint Listing Agent / Satisfy conditions for listing
Companies are advised to appoint a CSX approved listing agent or suitably qualified corporate adviser (for equity securities only) to guide on suitablity and compliance with the CSX conditions for listing and to provide on-going advice to the issuer for the duration of its listing on the CSX.
NOTE: Companies anticipating to list specialist/corporate debt securities or companies anticipating a secondary listing may act themselves by approaching the CSX directly or through their chosen legal advisers, as appropriate.
NOTE: Applicants are encouraged to discuss any issues with the CSX directly prior to making any initial application.
Prepare draft listing documents and an initial application
The Issuer, or its listing agent if one has been appointed, will prepare drafts of the listing application documentation, including draft listing documents for review and comment by the Exchange.
The CSX rules may require specific disclosures to be included in the document, which must also demonstrate compliance with the CSX’s conditions for listing.
The listing document must in addition, and as an overriding principle, contain all information which, according to the particular nature of the issuer and the securities for which listing is sought, is necessary to enable an investor to make an informed assessment of the activities, assets and liabilities, financial position, management and prospects of the issuer and of its profits and losses and of the obligations of and rights, powers and privileges of such securities.
CSX Review and Approval of listing application
In the first instance, all applications for listing are dealt with by the CSX’s Head of Listing and the staff of the listing department. Once the CSX staff are satisfied with an application, they will submit it to the listing committee of the CSX for approval. Once the document has been approved, supporting documentation must be filed before the securities are admitted to listing. The timing of comments on documents by the CSX is guaranteed and the listing committee will meet as often as necessary to approve applications.