The Issuer must provide evidence that it has been formed and registered under the appropriate legislation to which it is subject. Issuers incorporated in Trinidad and Tobago must be registered as companies under the Companies Act. Issuers incorporated outside of Trinidad and Tobago must be registered as external companies under the Companies Act.
The Issuer must provide evidence that it and the fund have complied with all the requirements in the Guidelines for Collective Investment Schemes issued by the TTSEC and that it has been registered as an Issuer of Collective Investment Schemes with the TTSEC.
The Issuer must submit a prospectus that has been approved by the TTSEC. An Issuer that is cross listing on the TTSE must submit an information memorandum that has been approved by the TTSEC. The prospectus or information memorandum must be submitted to the TTSE for review before a final version is submitted to the TTSEC. The primary concern of the TTSE in this regard is ensuring that all required information is disclosed thereby enabling potential investors to make accurate assessments of the securities being offered for sale.
classes of securities
All securities issued in a particular class must be listed.
The Issuer must ensure that a sufficient portion, which shall normally be 25% of any class of securities issued, is in the hands of the public, that is, persons who are not associated with the Senior Officers, Connected Persons and the holders of the ten (10) largest blocks of securities. Companies applying to list on the Mutual Fund Market must have a minimum of one hundred (100) shareholders. The Board of Directors of the TTSE may exercise its discretion in listing a security that has a lower proportion of its securities held by the public if, in its view, an effective and fair market can be made in the security.
The Trustee for a fund must act in accordance with the Guidelines for Collective Investment Schemes issued by the TTSEC and any other legislation that governs the operations of a trustee.
The fund manager must qualify to act in this capacity based on the requirements outlined in the Guidelines for Collective Investment Schemes issued by the TTSEC.
The fund custodian must qualify to act in this capacity based on the requirements outlined in the Guidelines for Collective Investment Schemes issued by the TTSEC.
All securities must be freely transferable.
Registrar and Transfer Agent
The fund Issuer must appoint a registrar and transfer agent in Trinidad and Tobago for the fund. A fund that is not incorporated under the laws of Trinidad and Tobago but issues securities in Trinidad and Tobago must have a sub-registrar in Trinidad and Tobago.
Clearing and Settlement
The Issuer must submit an application to become a participant of the TTCD in order to facilitate the clearing
and settlement of transactions executed on the Exchange’s electronic trading system.
The fund must appoint an independent auditor to carry out the audit of its annual financial statements.
The securities to be listed on the Mutual Fund market must have a minimum initial market capitalization of
The Board of Directors of the TTSE may exercise its discretion in listing a security that has a lower initial
market capitalization if, in its view, an effective and fair market in the security can be made.
Net Asset Value (NAV)
The fund must calculate its NAV each business day in accordance with the Guidelines for Collective Investment Schemes issued by the TTSEC and publish it in accordance with the TTSE Rules.
Mutual Fund Market Listing Application
The following documents and information must be submitted by a sponsoring Stockbroker along with an
application to list:
Upon receipt of this information the TTSE and the TTCD will add the company and its security to the trading
and settlement systems. The company may make a request to the TTSE for a symbol to be assigned to the