BUSINESS MONDAY: HUGE GAINS FOR BSE

CHIEF Executive Officer, Marlon Yarde, said that the Barbados Stock Exchange (BSE) has accomplished several achievements during the first half of 2019.

Reporting on the Exchange performance during that period, Mr. Yarde said that these achievements have further solidified the BSE and repositioned it to be the international exchange of choice.

Yarde recalled that at March 15, this year, he along with Nikhil Rambarran, Chairman of the Guyana Association of Securities Companies Intermediaries, signed a Memorandum of Understanding between the two exchanges.

That MOU paved the way for listing companies to trade in each other’s countries.

“Exactly one month later, on April 15, 2019, the BSE obtained Designated Recognised Stock Exchange Status from the United Kingdom Revenue and Customs,” said Yarde.

This recognition, he remarked, conferred on the BSE under Section 1005 of the UK Income Tax Act, represents a significant milestone in the BSE’s continued development.

According to him, “It not only enhanced the profile of Barbados as an internationally recognised financial centre, but also provides an avenue for sustainable and progressive development of the capital markets within Barbados and the wider Caribbean Community region.”

It was also noted that on May 3, 2019, in accordance with Section 33(2) of the Securities Act Cap.318 A, that the BSE filed a copy of proposed amendments to its International Securities Market (ISM) rules pursuant to Section 33 (I) of the Securities Act.

The proposed amendments to the ISM rules were in relation to Section 4610.3 and addendum Series 9000: Special Listing Facility – Digital Assets, which are both subject to regulations approval by the Financial Services Commission.