Williams said over the years there have been proposals for increasing the participation of local finance with the larger multinationals. One of the proposals he highlighted was the notion of reinventing domestic operations and opening this to wider participation on the stock exchange. But the practical implications of this have not been explored. He also noted that adhering to differing capital market regulation in various jurisdictions is somewhat of a hassle. Thus, the junior stock exchange could be an effective mechanism for raising capital for the sector. But Williams stated clearly that there had to be some kind of criteria for the establishment of this junior market.Companies that are interested in entering the market must do so via Initial Public Offerings (IPOs), Williams said.He added that annual statutory audits would be required in keeping with the submission requirements of the main stock exchange. However, he noted that a company which is solely or part of a subsidiary of a registered entity on a recognised stock exchange would not eligible to be listed.