BSX Introduces New Listing Regulations

The Millennium Edition is the Fourth Edition of the BSX Listing Regulations and represents the first major overhaul since the Regulations were introduced in 1995.

In making the announcement, BSX Listings and Compliance Manager, James McKirdy noted, "The changes made in the Fourth Edition reflect input provided by members of the Exchange and Listed Issuers over an extended consultancy period and experience garnered by the Listings and Compliance Department during the last several years.

The Millennium Edition standardizes the wording across the wide range of products available for listing on the Exchange. Additionally, certain points have been better defined, expanded upon or clarified."

The most significant change is the introduction of a new section, Section VI, in the International Regulations, which has been designed to attract the listing of Derivative Warrants, a new market niche for the BSX.

Other changes include a streamlining of the prospectus requirements for secondary listings of International Equity Securities (Section III). Under the new Regulations issuers may submit their latest audited financial statements in lieu of a prospectus.

The Exchange has also formalized the waiver for disclosure requirements, as previously granted by the Listings Committee on an ad hoc basis, for Restricted Market Collective Investment Vehicles, as defined in Section IV, in respect to the disclosure of investments and shareholder holdings.

The new Regulations have been circulated to all members and Domestic Market Issuers. Others wishing to obtain a set may do so by contacting the BSX Marketing Department. The Regulations are also available for download, on the BSX's website - www.bsx.com.