CLSA Financial Products Limited's Asian Securities Programme has joined the Bermuda Stock Exchange.

The Listing Committee has announced the approval of the listing of the programme along with nine certificates issued pursuant to the programme under the Exchange's restricted marketing provisions for qualified investors.

The Bermuda-domiciled subsidiary of the CLSA Asia-Pacific Markets Group, the Asian investment banking arm of Credit Agricole/Calyon, has designed the programme to allow institutional investor access to shares of listed companies in India, Korea, China and Taiwan through certificates issued under the programme.

The certificates listed are in respect of shares in Indian listed companies Infosys Technologies, ICICI Bank, State Bank of India, Satyam Computer Services, Tata Consultancy Services, Bharti Airtel, Grasim Industries, Unitech and Reliance Communication.a

First Bermuda Group sponsored the listing of both the programme and the certificates.

Greg Wojciechowski, chief executive officer of the Bermuda Stock Exchange, said: "We are delighted to welcome CLSA Financial Products's Asian Securities Programme and the nine certificates to the official list of the BSX.

"The BSX listing regulations are specifically designed to facilitate the listing of derivative issues such as this programme that are offered to institutional and sophisticated qualified investors.

"This is the first programme and set of certificates that have taken advantage of the Exchange's listing regulations and we are extremely pleased to be working with CLSA Financial Products."

Fraser Howie, head of structured products of the CLSA Asia-Pacific Markets Group, said: "The listing of our Asian Securities Programme on the BSX is an important milestone in establishing CLSA Financial Products as a leading issuer of market access products for the Asian markets.

"Listing our certificate programme allows CLSA Financial Products to work with a greater number of leading institutional investors. We are happy to work with the BSX who has provided an excellent and widely recognized platform to expand our business."

Michael Schroter, executive vice-president of First Bermuda Group, added: "This programme, with its underlying certificates, marks a first for us BSX listing sponsors of such derivative issues and we are delighted to be associated with CLSA Financial Products."