DCSE welcomes first listing

April 07, 2010 10:31 AM

The Dutch Caribbean Securities Exchange (DCSX) has accepted the Interbolsa Premium Capital Appreciation Fund (PCAF) as the first listing on its exchange.

PCAF is an umbrella fund with a net asset value of USD 123 million. The fund has various classes offered in USD, EUR and COP (Colombian Pesos). Interbolsa S.A, Colombia’s biggest brokerage firm is expected to add additional fund listings in the short term.
PCAF is a Netherlands Antilles registered fund, working closely together with a highly professional team of local financial services providers, accountants and legal firms: Eclipse Management (Director), Tradman Accounting Services (Administrator), First Caribbean International Bank (Bank), VanEps Kunneman VanDoorne (Legal Counsel) and Ernst & Young (Independent Account). The listing can be viewed and followed on the DCSX website - www.dcsx.an - Funds.

Amicorp
Amicorp, who among others has been one of the driving forces behind the realization of the Exchange, is a member of the DCSX. As one of the Listing Advisers (LAD) to the DCSX, Amicorp, in coordination with Eclipse Management, had the privilege of introducing the first listing on the DCSX.

DCSX
The DCSX does diligently follow the ANG 800 Million emission of the Aqualectra bonds. Expectations are that the Aqualectra bonds will be offered on the exchange.
The DCSX is also currently entertaining various interested issuers who are evaluating the possibility to list on the Exchange. These include both local and international funds and companies. The Exchange recently welcomed IFCE Fund Services as the latest LAD, and also expects to welcome new members shortly.
The DCSX, which recently obtained its license from the Minister of Finance of the Netherlands Antilles, aims to become an international Exchange for the listing and trading in domestic- and international securities. The Exchange will provide a time- and cost-efficient listing for international and local corporations and investment funds, furnishing an alternative to the regional exchanges in other jurisdictions.

Trading
The trading of the listed securities is scheduled to begin in the second quarter of 2010 upon completion of the testing phase and duly training of the participating organizations.

Actual trading can begin in the second quarter of 2010, as scheduled. Until then, the systems will be tested, and the participating organizations will receive the training necessary.
The managing director of DCSX is Luis Santine Jr.

The mission of DCSX is to become an international stock exchange for the listing of, and trade in (inter)national securities. The stock exchange will provide time-efficient and cost-effective listings of regional and international enterprises and investment funds, offering an alternative to regional stock exchanges in other jurisdictions.

Furthermore, DCSX wants to complement the existing package of services of financial institutions and other service providers in the Netherlands Antilles by facilitating (state-owned) companies that wish to make use of the local and regional capital markets.
According to the website, the following companies are a member at present: Amicorp, APNA, Banco di Caribe, CMTC, Fatum, Korpodeko, MCB, PSB, SFT, and Vidanova. Listing advisors are Amicorp, ANT, CMTC, Corporate Financial Solutions. Curado Trust, Eclipse Management, Equity Trust, and VanEps Kunneman VanDoorne.

(Source: National newspaper Antilliaans Dagblad)

31 March 2010