1What is the Dutch Caribbean Securities Exchange ("DCSX")?
The Dutch Caribbean Securities Exchange (DCSX) is a self-regulatory international Exchange for the listing and trading in domestic and international securities, which focused on servicing startups as well as small and medium-sized enterprises. The DCSX operates under full license of the Minister of Finance of the Curaçao Government and is supervised by the Central Bank of Curaçao and Sint Maarten.
2Where is the "DCSX"?
The DCSX located in Curaçao. Curaçao is a constitutional parliamentary democracy and an autonomous country within the Kingdom of the Netherlands. The island of Curaçao is in the Caribbean Sea right in front of the South American continent.

The Judiciary systems of Curaçao and The Netherlands are integrated. Various countries are represented in Curaçao with an office, embassy, or consulate, including The Netherlands, United States, Belgium, Germany, and the Peoples Republic of China.
3Is the "DCSX" official?
The DCSX is an official internationally recognized securities market, licensed by and operating under supervision of the Central Bank of Curaçao and Sint Maarten. The Rules and Regulations of the DCSX are based on the rules and regulations of (small- and medium sized oriented) European markets.

The DCSX is an affiliate of the World Federation of Exchanges (WFE) and an approved Member of AMERCA, the Association of Capital Markets of the Americas, formed by the Stock Exchanges of Costa Rica, Ecuador, El Salvador, Guatemala, Honduras, Nicaragua, Panamá, and the Dominican Republic.
AMERCA is an alliance of Exchanges founded in 1994 (previously called BOLCEN) with the purpose of promoting the markets in the region, strengthen their cross-border cooperation, and build a common market with easy access for issuers and investors.

DCSX provides investment funds and companies from a wide range of countries and sectors with access to her market and a supportive advisory community, who understand the needs of entrepreneurial businesses.
4How does "self-regulatory" work?
It simply means that in principle we make the rules and Regulations ourselves BUT only after approval of the Central Bank authorities. It is the same as the AIM exchange that is a sub-market of the London Stock Exchange. Currently, we are expecting to keep the same standard as EU Transparency Directives.

The Dutch Caribbean Securities Exchange (DCSX) is a self-regulatory international Exchange for the listing and trading in domestic and international securities through the Dutch Caribbean Securities Exchange Foundation.

The Dutch Caribbean Securities Exchange Foundation functions as the self-regulatory direct supervisory body that assures that the Management of the DCSX adheres to the processes as laid down in the Rules and Regulations. It is also the foundation that needs to approve new members to the DCSX. The Board of the Foundation is comprised of representatives of financial institutions and or other organizations whose interest it is that Curaçao has a well-functioning securities exchange.
5What is the Central Bank of Curaçao and Sint-Maarten (“CBCS”)?
The Dutch Caribbean Securities Exchange (“DCSX”) is directly supervised by the Central Bank of Curaçao and Sint Maarten (“CBCS”). CBCS is Curaçao’s financial regulator and an associate member of the International Organization of Securities Commissions (“IOSCO”).

IOSCO also includes the Asian Development Bank (ASIA), the European Commission, the European Securities and Markets Authority, the Securities and Exchange Surveillance Commission and many other reputable international financial market regulators.
6What kind of instruments are listed and can be traded on the DCSX?
Currently there are fixed income (bonds), equity (shares) and alternative instruments such as investment funds listed and tradable on the DCSX. Although not the case at this moment, share certificates, depository receipts and structured products can be listed on the DCSX as well.
7What are the benefits of a DCSX listing?
The DCSX offers especially smaller growing companies from all countries and throughout all sectors all the benefits of being traded on a world-class public market within a regulatory environment designed specifically for them. The DCSX is a flexible market with a simple admission process that allows more companies to experience life as a public company, and to capitalize on the resulting benefits for their businesses.
8Can you recommend a Listing Advisor or Broker?
For reasons of independence, we are unable to recommend individual Listing Advisor/ Broker firms - however, to begin your selection, you can search for listing advisors and brokers which appear on the List Listing Advisors and the List Brokers on the home page:

https://www.dcsx.cw/listing-advisors/
https://www.dcsx.cw/list-brokers/
9What is the first step in applying for a listing?
When considering a listing on the DCSX you should first select and contact a DCSX Listing Advisor. DCSX approved Listing Advisors appear on the List of Listing Advisors on the Listing Advisor section on the home page: https://www.dcsx.cw/listing-advisors/

In this section, you will find not only the approved Listing Advisor logos and contact details but also information on the Role of a Listing Advisor and the Requirements to become a Listing Advisor.
10Do I need to undertake a fundraising program when my company lists with the DCSX?
No, companies that list on the DCSX are not required to raise funds at the same time of the listing. This reflects the fact that companies can list on the DCSX for a variety of reasons. Some list in order to get a clearer valuation a/o tranparancy for their company or to raise their profile with potential future investors, customers, suppliers and the media.

Others may already have a strong balance sheet, and want to attract additional capital thru an issue of securities at some future point after having first only been listed on the DCSX.

Your Listing Advisor will advise you on fundraising, and on the most appropriate methods of promoting your company's securities to the investment community. They will also be able to provide assistance in pricing your securities.
11What are the requirements to apply for a listing on the DCSX?
Requirements for Trade-able and Technical Listings are outlined under “Listing Requirements” on the Documents/Downloads page:
https://www.dcsx.cw/downloads/
12What is a Technical Listing?
The purpose of technical listings is not to raise capital but to elevate the company’s profile on the market and to elevate the compliance level of the legal entity, at the same time it is considered a preparation to become tradeable in the future on the DCSX trading platform.
13What is a Trade-able Listing?
Trade-able listings are what are known as “traditional” listings with the main purpose to raise capital or provide liquidity to the shareholders.
14What does "Trade Approved" mean?
When a listing is identified as "Trade Approved" it means that the process of Dematerialization of Shares and/or Deposit with Custodian are still pending to be completed in order to start trading on the main market.
15Do Investment Funds that are listed on the DCSX need authorization from Curacao regulatory authorities?
Investment Funds that are listed on the DCSX do not need to obtain authorization from any regulatory authorities as a result of a DCSX listing. Foreign investment funds that are in compliance with regulations in their home jurisdiction do not require any additional authorizations. Curacao investment funds fall under the scope of the National Ordinance on the Supervision of Investment Institutions and Administrators (the “NOSIIA”) and must therefore comply with the provisions or exemptions as outlined in the Central Bank of Curaçao and Sint Maarten’ Policy Guidelines for Foreign Investment Institutions.

Foreign Investment Funds that are traded on the DCSX will be considered to be raising capital from Curacao which falls under the scope of the NOSIIA. As such, Foreign Investment Funds must comply with the provisions of the NOSIIA or must file an exemption request. Conditions for exemption requests are outlined in the Guidelines for Foreign Investment Institutions and include a “sophisticated investor” exemption where the minimum investment amount is US$50,000 or greater.

If you are interested we can provide you with a copy of a writing by the Central Bank of Curacao and St. Maarten in this respect.
16What are the requirements for Investors to trade on the DCSX?
All investors interested in buying securities on the DCSX need to have a brokerage account at authorized brokers on the DCSX. Since the Investors are direct clients of our approved brokers, the requirements for client acceptance are established by each individual broker.
17How can I invest in companies that are trade-able on the DCSX?
All investors interested in buying securities on the DCSX need to have a brokerage account at authorized brokers on the DCSX. So, the account of the investor is opened with the broker NOT the DCSX. The DCSX offers the platform that the brokers are able to use. We don’t have any direct contact with the issuers or investors. The listing advisor is the representative of the issuer when dealing with the exchange. And the brokers are in direct contact with investors.

Our experts will answer your questions


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