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Friday, 11 December, 2009. Labuan International Financial Exchange (LFX) today announced, that with immediate effect, issuers will have an option to either use the depositories appointed by LFX or to utilise the issuer’s own custodian banks when seeking listing on LFX.
With this new initiative, issuers wanting to list on the LFX need not seek waivers to the current requirement of having to use depositories appointed by LFX. The depositories appointed by LFX are Citibank Worldwide Securities Services and Deutsche Bank (Malaysia) Berhad.
It is an international market practice where investors clear and settle via global clearing and settlement houses. Securities are generally deposited with custodian banks that are accorded with “common depository” recognition by global clearing and settlement houses.
About LFX
Financial instruments listed on LFX include conventional debt securities, exchangeable bonds, Islamic debt securities and open-ended funds. LFX is a one-stop offshore exchange that provides full services of approval, listing, trading and settlement of securities and financial instruments. LFX’s current market capitalization now stands at USD18.1 billion.
About Labuan International Financial Exchange (LFX):
LFX is an international offshore financial exchange based in Labuan, the international offshore financial centre of Malaysia. LFX is web-based at
www.lfx.com.my
and utilise international networking and electronic communication systems to facilitate exchange listing and trading facilities. LFX facilitates the listing of both conventional and Islamic multi-currency financial instruments and allows the issuer the flexibility to structure
instruments for listing that best suit their funding needs. LFX is a company limited by shares and is wholly-owned by Bursa Malaysia Berhad.
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