CSX lowers ILS fees in response to lost lead

The Cayman Islands Stock Exchange has lowered application fees for ILS in response to the lead that it has lost to Bermuda in the space.

Stand-alone issuances will now be charged a fee of $1,250, compared with $2,500 that was previously charged. Programme costs have also halved, from $3,000 to $1,500, while series within the programme have been reduced to $500 from $1,000.

The new fees will take effect from 1 January 2014.