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BISX Hurricane Closure Procedures

PRESS RELEASE – FOR IMMEDIATE RELEASE – Monday 11 September 2017

BISX Hurricane Closure Procedures

The Bahamas International Securities Exchange Limited (BISX) wishes to inform the public that the BISX Office will re-open during normal operating hours on Monday 11 September 2017.

Please monitor the BISX website for updates.

 

Please be advised of the following:

DATE: Monday 11 September 2017

OFFICE HOURS: Open at 9 a.m.

NOTES: Subject to weather conditions

 


BISX Contact Details:

Mrs. Elude Sturrup
Bahamas International Securities Exchange Limited
Tel: (242) 323-2330
Fax: (242) 323-2320
Email: info@bisxbahamas.com

by Jacquella Gardiner Jacquella Gardiner No Comments

BISX Lists the Oil & Gas Opportunity Lending Fund Ltd.

FOR IMMEDIATE PUBLICATION – Thursday 17 August 2017

The Bahamas International Securities Exchange (BISX) is pleased to announce that the Oil & Gas Opportunity Lending Fund Ltd. (the Fund) has successfully completed the BISX Mutual Fund Listing Process. As a result, the Fund’s shares have now been added to the roster of funds listed on the Exchange. The Oil & Gas Opportunity Lending Fund Ltd. is an open-ended mutual fund.

Oil & Gas Opportunity Lending Fund Ltd. is incorporated as an International Business Company under the laws of the Commonwealth of The Bahamas.

In speaking of the Listing, Ivan Hooper, Chief Executive Officer of The Winterbotham Trust Company Limited stated: “We are pleased to have sponsored the listing of the Oil & Gas Opportunity Lending Fund Ltd., an institutional fund focusing in the provision of financing to exploration, drilling, refining, and processing services companies in emerging markets with a particular emphasis in Latin-America. As the largest Fund Administrator by number of funds in The Bahamas, listing has become a key component of our offering. Listing with BISX is a key enhancer to this offering and our ability to attract funds to The Bahamas¨.

BISX Chief Executive Officer, Keith Davies, commented on the listing of the Oil & Gas Opportunity Lending Fund Ltd. “Our mutual fund facility remains a fast growing product line of the Exchange. We are proud to partner with the Winterbotham Trust Company Limited and all of our Sponsor Members to offer this value added service to their clients.”

The Winterbotham Trust Company Limited served as the BISX Sponsor Member that brought the Oil & Gas Opportunity Lending Fund Ltd. to the Exchange. OGOL Management Services Ltd. is the Investment Manager and The Winterbotham Trust Company Limited served has been appointed to serve as the Administrator of the Fund.

NOTE: Attached to this Press Release is the BISX Formal Trading Notice for Oil & Gas Opportunity Lending Fund Ltd. This notice advises the public of the security to be listed on the Exchange and the trading symbol of the listed security.

by Holland Grant Holland Grant No Comments

BISX and BCSD Pay Joint Courtesy Call to Minister of Finance

The Bahamas Central Securities Depository (BCSD) and The Bahamas International Securities Exchange (BISX) on Thursday 27 July 2017 paid a joint courtesy call on the Deputy Prime Minister and Minister of Finance, the Honorable K. Peter Turnquest. During the courtesy call, the representatives from both organizations took the opportunity to discuss matters related to the Bahamian Capital Markets.

Craig Tony Gomez, Chairman of BCSD noted: “we were grateful to Minister Turnquest for his kind consideration in allowing us to meet with him, to speak on matters of mutual interest, focusing on the influence that the Government has, directly and indirectly on our capital markets.”

Nerika Burrows, President of BCSD added: “we were able to update Minister Turnquest on the activities of BCSD as it relates to our operations, international affiliations and technological improvements. BCSD currently serves as the Registrar and Transfer Agent (RTA) for the majority of public companies in The Bahamas as well as Payment Agent for some tranches of Government Debt, and so it is crucial that the Government understands our operations in its entirety.”

Minister Turnquest was joined by Mr. Simon Wilson, Financial Secretary. The BCSD delegation was led by Mr. Gomez, Ms. Burrows, Mrs. Melissa Campbell and Mr. Alson Ferguson BCSD Assistant Managers. BISX was represented by Mr. Keith Davies, BISX CEO, Mr. Holland Grant, BISX COO and Mr. Nicholas Rees, Financial Consultant to BISX and BCSD.

Mr. Keith Davies BISX CEO noted: “Governments and capital markets influence each other greatly through regulation, ease of raising funds and general investor confidence. I was grateful to Minister Turnquest for meeting with BISX and BCSD as our organizations jointly are part of the larger system upon which the Bahamian capital markets operate. I welcomed the opportunity to speak about those areas where the Government can assist the Exchange, and those areas where the Exchange can assist the Government, particularly with the listing and trading of Government securities and the Government’s future privatization plans. I look forward to more constructive discussions in the future.”

For additional Information please contact:

Mrs. Elude Michel-Sturrup
BISX
Tel: 242-323-2330
Fax: 242-323-2320
Email: info@bisxbahamas.com

by Jacquella Gardiner Jacquella Gardiner No Comments

BISX Q2 Statistical Report 2017

FOR IMMEDIATE PUBLICATION

JANUARY TO JUNE 2017 STATISTICAL REPORT

BISX is pleased to announce its BISX All-Share Index and trading statistics for the six month period ending June 30, 2017 with comparison to the same period of 2016.

BISX ALL SHARE INDEX
For the six month period ending June 30, 2017 the BISX All-Share Index closed at 1,864.87. This represents a year to date decrease of 73.34 or 3.78%. By comparison for the six-month period ending June 30, 2016 the BISX All-Share Index closed at 1,963.81. This represented a year to date increase of 139.96 or 7.67%. The BISX All-Share Index is a market capitalization weighted index comprised of all primary market listings excluding debt securities.

As at June 30, 2017 the market was comprised of 20 ordinary shares with a market capitalization of $3.94 Billion. In addition, there were 13 preference shares with a market capitalization of $327.25 Million and 19 bonds with a face value of $579 Million.

COMPARISON OF BISX ALL SHARE INDEX TO INTERNATIONAL INDICES
Over the 6 month period January 1 to June 30, 2017, some international equity markets have experienced increases as indicated by the chart below:

TRADING VOLUMES AND VALUES
Trading volume for the six-month period January 1, 2017 to June 30, 2017 was 2,350,053 shares for a value of $15,486,900.90. Trading volume for the six-month period January 1, 2016 to June 30, 2016 was 2,960,687 shares for a value of $15,450,808.65.

Trading volume for the three-month period April 1, 2017 to June 30, 2017 was 1,354,166 shares for a value of $9,422,332.17. Trading volume for the three-month period April1, 2016 to June 30, 2016 was 2,061,562 shares for a value of $8,113,378.95.


AVERAGE DAILY VOLUME AND VALUE
For the six-month period from January 1, 2017 to June 30, 2017, the average volume per trading day was 18,328 shares for a value of $122,922.56. By comparison, for the six-month period from January 1, 2016 to June 30, 2016, the average volume per trading day was 23,590 shares for an average value of $123,531.68.

SHARE VOLUME AND VALUE LEADERS (SIX MONTH PERIOD)
The top five share volume leaders on BISX for the six-month period January 1, 2017 to June 30, 2017 with their contribution to total traded volume displayed as a percentage were:

The top five share value leaders on BISX for the six-month period January 1, 2017 to June 30, 2017 with their contribution to total traded value displayed as a percentage were:

SHARE VOLUME AND VALUE LEADERS (THREE MONTH PERIOD)
The top five share volume leaders on BISX for the three month period April 1, 2017 to June 30, 2017 with their contribution to total traded volume displayed as a percentage were:

The top five share value leaders on BISX for the three-month period April 1, 2017 to June 30, 2017 with their contribution to total traded value displayed as a percentage were:

by Jacquella Gardiner Jacquella Gardiner No Comments

Leno Corporate Services Limited Becomes a BISX Sponsor Member

FOR IMMEDIATE PUBLICATION – 20 June 2017

 

LENO CORPORATE SERVICES LIMITED BECOMES A BISX SPONSOR MEMBER

From left to right: Leno Corporate Services President Sean Longley, BISX Chief Executive Officer Keith Davies

The Bahamas International Securities Exchange (BISX) is pleased to announce that Leno Corporate Services Limited (LENO) has become a BISX Sponsor Member. Leno Corporate Services Limited becomes the sixth BISX Sponsor Member. BISX Sponsor Members are listing agents that bring mutual funds to the Exchange, they serve the valuable function of carrying out a primary review of mutual funds seeking a listing on the Exchange.

Speaking on the addition of Leno as a Sponsor Member, Keith Davies, BISX’s Chief Executive Officer stated, “We are extremely pleased that Leno decided to add this new service to their product offerings. Leno joined BISX as a Broker Member in 2014 and since that time we have seen them evolve and grow to offer multiple new business lines. We eagerly anticipate Leno bringing mutual funds to the Exchange.”

Mr. Sean K. Longley, President of Leno, stated “Becoming a BISX Sponsor Member is another milestone and proud moment for LENO. This important step reflects our commitment to the industry as a financial services provider both locally and internationally. Our intention is to contribute to the further growth of the financial services sector with our new ability to list mutual funds on the Exchange while doing our part to enhance the industry. LENO has successfully introduced a few local mutual funds and is currently in the process of finalizing one of three international funds that will eventually be listed on the Exchange. LENO has always believed in growing the pension and investment industry with diverse product offerings.  Given the impact we have made over our seven (7) years, LENO will always be embracing our role and responsibility to grow with our ever-changing industry in an appropriate and professional manner.”

From left to right: BISX Chief Operating Officer Holland Grant, Leno Corporate Services Portfolio Manager Tricetta Small

Mr. Longley went on to say that “LENO’s focus remains on providing financial and investment services that add value to our domestic and international clients. We are proud of the impact we have made in the various areas of pension investment management services, corporate services, and wealth management. Though LENO has grown, our business model still embodies the investment boutique philosophy that we started with years ago – Professional service with a personal touch. It is our beliefs towards adding value and our unwavering commitment to our clients that will continue to guide our growth over the years to come”

The BISX Mutual Fund Listing Facility recently surpassed 50 fund listings with a mixture of domestic and local funds. Domestic and International investors have benefited from the increased transparency and regulation that comes from a listing on a recognized stock exchange. The Mutual Fund Listing Facility includes funds as diverse as Segregated Account Companies, Limited Duration Companies and Investment Condominiums.

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BISX CEO Attends International Organization of Securities Commissions Conference

FOR IMMEDIATE PUBLICATION – 9 JUNE 2017

BISX CEO ATTENDS INTERNATIONAL ORGANIZATION OF SECURITIES COMMISSIONS CONFERENCE

IMG-20170527-WA0010

(From L to R: BISX CEO Keith Davies, Securities Commission Executive Director Christina Rolle, IOSCO Secretary General Paul Andrews)

BISX Chief Executive Officer Mr. Keith Davies took part in the International Organization of Securities Commissions (IOSCO) conference held May 15 – 18. IOSCO is the leading international policy forum for securities regulators and is recognized as the global standard setter for securities regulation.  It is made up of over 100 security regulators and self-regulating organizations (SROs). The theme for IOSCO’s Annual Conference was “Building Securities Market Resilience in the Post-Crisis World” and it was held in Montego Bay, Jamaica. This year’s conference brought together more than 400 securities regulators, industry representatives and other financial market participants from around the world.

IMG-20170527-WA0011

(Conference Attendees viewing Panel Discussion)

Ashley Alder, Chair of the IOSCO Board, noted the IOSCO Conference was designed to “address the key challenges facing securities markets including the risks around cyber security, changing market structure, and financial technology while also preparing markets to play a bigger role in financing the global economy.”

IMG-20170527-WA0006

(From L to R: BISX CEO Keith Davies, IOSCO Vice-Chairman Mr. Ranjit Ajit Singh) 

Mr. Davies reflected on the event by saying, “One of the themes of BISX is Confidence, and confidence has its roots in open and transparent regulation.  It was a wonderful opportunity to attend the IOSCO Annual Conference and speak with my regulatory colleagues about our common role of market regulation.  The regulatory and information sessions allowed me an opportunity to dialogue with international regulators on issues as diverse as crowdfunding, timely
disclosure and trading principles.  Events such as this benefit all attendees, as they have an opportunity to learn from fellow professionals both through the information sessions and through the conversations outside of the formal sessions.”

Noting that this was the first time that this conference was held in the English-speaking Caribbean,
Mr. Davies went on “I would like to thank the Financial Services Commission of Jamaica for
hosting all attendees, I also want to thank the Securities Commission of The Bahamas for
sponsoring an event during the conference.  I intend to continue to follow up with my colleagues
on many issues discussed at the conference to continue to foster confidence in the Bahamian
capital markets through regulation.”

 

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BISX 2017 Q1 Statistical Report

FOR IMMEDIATE PUBLICATION

JANUARY TO MARCH 2017 STATISTICAL REPORT

BISX All Share Comparison 2017

BISX is pleased to announce its BISX All-Share Index and trading statistics for the three-month period ending March 31, 2017 with comparison to the same period of 2016.

BISX ALL SHARE INDEX

For the three-month period ending March 31, 2017 the BISX All-Share Index closed at 1,902.75. This represents a year to date decrease of -33.46 or -1.83%. By comparison for the three-month period ending March 31, 2016 the BISX All-Share Index closed at 1,873.96. That increase was a year to date increase of 50.01 or 2.74%. The BISX All-Share Index is a market capitalization weighted index comprised of all primary market listings excluding debt securities.

As at March 31, 2017 the market was comprised of 20 ordinary shares with a market capitalization of $4.041 Billion. In addition, there were 13 preference shares with a market capitalization of $327 million and 19 bonds with a face value of $579 Million.

 

COMPARISON OF BISX ALL SHARE INDEX TO INTERNATIONAL INDICES

Over the three-month period January 1 to March 31, 2017, some international equity markets have experienced increases as indicated by the chart below:

Closing Date MSCI Emerging Market Index[1] S&P 500 Index[2] FTSE 100 Index[3]   BISX All Share Index
Jan 3, 2017 868.44 2,257.83 7,177.89 1,938.21
Mar 31, 2017 958.37 2,362.72 7,322.92 1902.75
 
Percentage Change (+/-) 10.36% 4.65% 2.02% -1.83%

 

TRADING VOLUMES AND VALUES

Trading volume for the three-month period January 1, 2017 to March 31, 2017 was 996,137 shares for a value of $6,314,569. By comparison, trading volume for the three-month period January 1, 2016 to March 31, 2016 was 899,125 shares for a value of $7,337,430.

6 month trade volume

6 month trade value

AVERAGE DAILY VOLUME AND VALUE

For the three-month period from January 1, 2017 to March 31, 2017, the average volume per trading day was 16,097 shares for a value of $ 303,499. By comparison, for the three-month period from January 1, 2016 to March 31, 2016, the average volume per trading day was 14,457 shares for a value of $118,280.

Month Avg. volume / trading day (2017) Avg. volume / trading day (2016) Avg. value / trading day (2017) Avg. value / trading day (2016)
January

12,721

11,672 $86,070

$114,183

February 25,474 21,979 $135,900 $162,333
March 10,097 9,720 $81,530 $78,322
Average for period 16,097 14,457 $303,499 $118,280

 

SHARE VOLUME AND VALUE LEADERS (THREE MONTH PERIOD)

The top five share volume leaders on BISX for the three-month period January 1, 2017 to March 31, 2017 with their contribution to total traded volume displayed as a percentage were:

SYMBOL TRADE VOLUME % OF VOLUME
AML 519,639 53%
CAB 153,581 16%
FCL 91,336 9%
CBL 75,255 8%
FIN 26,035 3%

 

The top five share value leaders for the three-month period January 1, 2017 to March 31, 2017 with their contribution to total traded value displayed as a percentage were:

SYMBOL TRADE VALUE % OF TRADE VALUE
AML          $2,276,019 36%
FCL          $838,205 13%
CBL          $789,200 12%
CAB          $672,946 11%
BG0407          $500,000 8%

 

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BISX Passes Fund Listing Milestone

FOR IMMEDIATE PUBLICATION – 3rd April 2017

BISX PASSES FUND LISTING MILESTONE WITH LISTING OVER 50 FUNDS

The Bahamas International Securities Exchange (BISX) is pleased to announce the listing of the following funds:

1. Panorama Fund LDC, (Panorama),

2. Matrix Fund Investment Ltd. SAC – Class AG (“Matrix Class AG”), and

3. Matrix Fund Investment Ltd. SAC – Class MK (“Matrix Class MK”).

These funds have all successfully completed the BISX Listing Process. As a result, these securities have now been added to the roster of funds listed on the Exchange. Panorama, Matrix Class AG and Matrix Class MK are all open ended investment funds.

Matrix Class AG and Matrix Class MK are sub-funds of Matrix Fund Investments Ltd. SAC, an International Business Company registered as a Segregated Accounts Company under the Segregated Accounts Companies Act, 2004.  Panorama Fund LDC is registered as a Limited Duration Company under the International Business Companies Act, 2000.

BISX Chief Executive Officer, Keith Davies commented on the listing of the Mutual Funds, “We continue to be pleased with the faith that our service provider partners place in BISX for listing their mutual funds, especially Credit Suisse, the Sponsor Member that brought these 3 funds to BISX.  We are also thrilled that with these listings we have crossed the 50 fund threshold and now have 51 funds listed on the Exchange.  We now look with optimism to crossing the 100 plus fund threshold.”

Credit Suisse AG, Nassau Branch – Wealth Management served as the BISX Sponsor Member that brought these Funds to the Exchange.

NOTE: Attached to this Press Release is the BISX Formal Trading Notice for Matrix Class AG, Matrix Class MK and Panorama these notices advise the public of the securities to be listed on the Exchange and the trading symbol of the listed securities.