Seychelles Securities Exchange |28 March 2014

Trop-X announces new products and equities listings

The Seychelles Securities Exchange (‘Trop-X’) has announced new products as well as new equities listings planned over the next 30 days.

The first of the three new equities listing will be a Luxembourg company which will be the first foreign company, the first Euro denominated and the first under the “Specialist Securities” section of the Trop-X listing requirements.

The second new listing will be its first USD and first Venture Capital Board listing.

Lastly, Trop-X will be adding its first SME Board listing which will be the second local Seychelles company listing.

Along with the listing of the Sacos Group to the main board last year, Trop-X will now have a listing on each of its three equities “boards”, listings in three different currencies and a “Specialist Securities” listing which is also a foreign company proving the practical application and flexibility of its listing requirements.

Trop-X has also added three new listing sponsors (“Sponsor Advisors”) over the last six months and is seeing increasing interest from investors, investment banking firms, brokers and issuers stretching from Europe and Africa to Asia.

Earlier this year, Trop-X obtained regulatory approval of amendments to the listing requirements from the non-banking financial services regulator, the Financial Services Authority, to cater for several new products.

In addition to Specialist Securities mentioned above, the changes now allow Trop-X to cater for the launch of a planned OTC Equities Board, Listed Derivatives Securities Board as well as Debt Securities.

An official announcement will be made in the coming weeks regarding the launch of 112 new highly liquid USD denominated and settled derivatives securities (planned to increase to 612 by end of the year) to the Listed Derivatives Securities Board.

This exciting product has been under development by Trop-X for some three years.

Contributed