FOR IMMEDIATE PUBLICATION – 20th June 2016
BISX LISTS NEW MUTUAL FUNDS
The Bahamas International Securities Exchange (BISX) is pleased to announce the listing of the following funds:
1.Lewisham Investment Fund Ltd, (Lewisham),
2.3Ps Investment Fund IC Commons Quotas (“The 3Ps Common Quotas”),
3.3Ps Investment Fund IC Preferred Quotas (“The 3Ps Preferred Quotas”), and
4.Delmonte Fund Limited SAC (Delmonte)
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. Lewisham, 3Ps Common Quotas and 3Ps Preferred Quotas and Delmonte are all open-ended investment funds.
Lewisham and Delmonte are incorporated as International Business Companies under the laws of the Commonwealth of The Bahamas. Lewisham is registered as a Smart Fund Model SFM007 and Delmonte is registered as a Professional Investment Fund. The 3Ps Common Quotas and 3Ps Preferred Quotas are sub-funds of the 3Ps Investment Fund IC, this is the second Investment Condominium (ICON) to be listed on BISX pursuant to the Investment Condominium Act, 2014
BISX Chief Executive Officer, Keith Davies commented on the listing of the Mutual Funds, “We continue to be pleased with the traction being experienced by our Mutual Fund Listing Facility, with total assets under management of funds listed on the Exchange passing $2.3 Billion at December 31, 2016. We are also pleased that 3Ps Investment Fund IC becomes the second ICON to be listed on the exchange. We intend to continue to enhance the market with our commitment to development through innovation.”
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 Delmonte, 3Ps Common Quotas, 3Ps Preferred Quotas and Lewisham these notices advises the public of the securities to be listed on the Exchange and the trading symbol of the listed securities.
For Additional Information Contact:
BISX PRESS RELEASE
FOR IMMEDIATE PUBLICATION
JANUARY TO DECEMBER 2015 STATISTICAL REPORT
BISX is pleased to announce its BISX All-Share Index and trading statistics for the twelve month period ending December 31, 2015 with comparison to the same period of 2014.
BISX ALL SHARE INDEX
For the twelve month period ending December 31, 2015 the BISX All-Share Index closed at 1,823.95. This represents a year to date increase of 164.65 or 9.92%. By comparison for the twelve month period ending December 31, 2014 the BISX All-Share Index closed at 1,659.30. That increase was a year to date increase of 191.08 or 13.01%. The BISX All-Share Index is a market capitalization weighted index comprised of all primary market listings excluding debt securities.
As at December 31, 2015 the market was comprised of 20 ordinary shares with a market capitalization of $3.82 Billion. In addition, there were 13 preference shares with a market capitalization of $327 Million and 16 bonds with a face value of $505 Million.
COMPARISON OF BISX ALL SHARE INDEX TO INTERNATIONAL INDICES
Over the 12 month period January 1 to December 31, 2015, some international equity markets have experienced decreases / increases as indicated by the chart below:
Closing Date * MSCI Emerging * Market Index * S&P 500 * Index * FTSE 100 * Index * BISX All Share *
Dec 31, 2014 * 956.308 * 2,058.90 * 6,566.10 * 1,659.30 *
Dec 31, 2015 * 794.139 * 2,043.94 * 6,242.30 * 1,823.95
Percentage Change (+/-) * -16.96% * -0.73% * -4.93% * 9.92%
TRADING VOLUMES AND VALUES
Trading volume for the twelve month period January 1, 2015 to December 31, 2015 was 3,223,433 shares for a value of $21,893,252.61. Trading volume for the twelve month period January 1, 2014 to December 31, 2014 was 4,026,858 shares for a value of $17,883,251.
Trading volume for the three month period October 1 to December 31, 2015 was 1,240,979 shares for a value of $ $9,424,351.47. By comparison, for the three month period from October 1 to December 31, 2014 was 1,799,719 shares for a value of $ $6,524,776.75.
For the twelve month period from January 1, 2015 to December 31, 2015, the average volume per trading day was 10,567 shares for a value of $66,576.44. By comparison, for the twelve month period from January 1, 2014 to December 31, 2014, the average volume per trading day was 16,344 shares for an average value of $72,031.21.
AVERAGE DAILY VOLUME AND VALUE
For the twelve month period ending December 31, 2015 the average daily trading volume was 10,567 shares which resulted in an average daily trading value of $66,576.44. By comparison for the twelve month period December 31, 2014 the average daily trading volume was 16,344 shares for an average value of $72,031.21.
During the three month period from October 1, 2015 to December 31, 2015, the average volume per trading day was 29,553 shares for a value of $90,523.05. By comparison, for the three month period from October 1, 2014 to December 31, 2014, the average volume per trading day was 29,553 shares for an average value of $104,904.94.
Month * Avg. volume / trading day (2015) * Avg. volume / trading day (2014) * Avg. value / trading day (2015) * Avg. value / trading day (2014)
January * 6,176 * 28,290 * $37,290.51 * $92,235.70
February * 11,754 * 4,447 * $97,775.11 * $33,354.65 *
March * 10,927 * 4,868 * $66,202.86 * $30,479.22
April * 5,256 *5,279 * $42,475.78 * $33,810.29 *
May * 6,335 * 16,703 * $41,384.60 * $87,016.31 *
June * 16,998 * 15,791 * $82,739.65 * $96,919.89 *
July * 5,768 * 11,669 * $41,974.25 * $73,945.56 *
August * 16,910 * 10,277 * $96,321.06 * $49,439.59*
September * 14,982 * 10,148 * $93,024.13 * $52,288.53 *
October *18,274 * 6,798 *$91,542.76 * $42,369.55 *
November * 25,180 * 68,926 * $82,812.43 *$126,603.76 *
December * 25,916 * 12,935 * $97,213.97 * $145,741.51 *
Average * for * period * 10,567 * 16,344 * $66,576.44 * $72,031.21 *
SHARE VOLUME AND VALUE LEADERS (TWELVE MONTH PERIOD)
The top five share volume leaders on BISX for the twelve month period January 1, 2015 to December 31, 2015 with their contribution to total traded volume displayed as a percentage were:
SYMBOL * TRADE VOLUME * % OF VOLUME
CBL * 867,401.00 * 26.8%
CAB * 311,613.00 * 9.6%
AML * 291,018.00 * 9.0%
CHL * 246,755.00 * 7.6%
FIN * 218,480.00 * 6.8%
The top five share value leaders for the twelve month period January 1, 2015 to December 31, 2015 with their contribution to total traded value displayed as a percentage were:
SYMBOL * TRADE VALUE * % OF TRADE VAlUE
CBL * $6,571,109.82 * 30.0%
CAB * $2,937,671.64 * 13.4%
FIN *$2,402,495.57 * 11.0%
CHL * $1,316,123.68 * 6.0%
FCL * $1,175,054.00 * 5.4%
SHARE VOLUME AND VALUE LEADERS (THREE MONTH PERIOD)
The top five share volume leaders on BISX for the three month period October 1, 2015 to December 31, 2015 with their contribution to total traded volume displayed as a percentage were:
SYMBOL * TRADE VOLUME * % OF VOLUME *
CBL * 410,226 * 32.86% *
CHL * 149,000 * 11.93%
FBB * 116,500 * 9.33%
CAB * 105,071 * 8.42%
FCL * 78,020 * 6.25%
The top five share value leaders for the three month period October 1, 2015 to December 31, 2015 with their contribution to total traded value displayed as a percentage were:
SYMBOL* TRADE VALUE * % OF TRADE VALUE
CBL * $3,146,663.08 * 33.4%
CAB * $867,370.12 * 9.2%
BG0203* $750,000.00 * 8.0%
FBB * $705,332.50 * 7.5%
CBB * $592,829.50 * 6.3%
For Additional Information Contact:
Elude Michel-Sturrup Tel: 242-323-2330 Fax: 242-323-2320 Email: email@example.com
Bahamas International Securities Exchange Suite 201 Fort Nassau Centre British Colonial Hilton, Bay Street P. O. Box EE-15672, Nassau, Bahamas
Telephone: (242) 323-2330
Facsimile: (242) 323-2320
Publication Date: 29 March 2016
Chief Operating Officer of The Bahamas International Securities Exchange (BISX), Mr. Holland Grant, recently took part in the 12th Annual Conference and Workshop organised by the Caribbean Group of Securities Regulators and hosted by The Securities Commission of The Bahamas. This conference which focused on Regional Capital Market Development and Regulation was held at the British Colonial Hilton 20 – 22 April, 2016 and brought together securities regulators from over 20 countries and territories to discuss common issues related to Securities Regulation.
Mr. Grant spoke on the panel discussion “View of Regulation of Caribbean Exchanges”, the panel was chaired by Mr. Courtney Christie-Veitch, Financial Sector Supervision Advisor to the Caribbean Regional Technical Assistance Centre (CARTAC). Also on the panel were Ms. Alousia Faisal, Secretary, Eastern Caribbean Securities Regulatory Commission; Laurence Crossley, Senior Director, Securities Division Jamaica Financial Services Commission and Mr. C. Wainright Iton, Chief Executive Officer, Trinidad and Tobago Securities and Exchange Commission.
Commenting on his participation on the panel discussion, Mr. Grant noted “It was my pleasure to share the views of BISX on the regulation of Exchanges. Speaking as the only representative of a Securities Exchange on a panel discussing the regulation of Securities Exchanges also gave me the opportunity to share our view of how BISX is regulated and how we carry out our regulatory functions. As I noted during my contribution, my job as a regulator is 90% education and communication and only 10% regulation.”
As a part of Mr. Grant’s contribution, he drew particular attention to the following issues that he felt would become increasingly important for Caribbean Exchanges and Caribbean Securities Regulators:
- Harmonization of Rules between Caribbean Exchanges and Jurisdictions: Noting the challenges faced by companies seeking to list in multiple jurisdictions, Mr. Grant suggested that the harmonization of stock exchange rules as well as statutory laws related to Securities to the greatest extent possible, as a way to encourage cross border listing and investment.
- Combination of Caribbean Exchanges: Noting that this was an excellent idea in principle, Mr. Grant noted that in practice each Exchange had its own strategy and focus that made integration challenging.
- Service Level Agreements for Regulators: Noting the importance of timely responses in financial markets, Mr. Grant stated that it would become more important in the future for regulators to specify a time in which practitioners could expect to receive a response to inquiries.
- Promotion of Exchanges: Noting the role that exchanges play within each jurisdiction, Mr. Grant suggested that regulators might want to find new ways to make their international market practitioners aware of their national exchanges.
The Securities Commission of The Bahamas will also host the 13th Annual Caribbean Group of Securities Regulators Conference in Nassau, The Bahamas in the first half of 2017.
For Additional Information Contact:
FOR IMMEDIATE PUBLICATION – Friday 8 January 2016
The Bahamas International Securities Exchange (BISX) announced today that the Government of The Commonwealth of The Bahamas has successfully completed the listing process for all of the Notes that comprise Tranche 3 of Bahamas Government Stock (“the Notes”). As a result, the Notes have been added to the roster of securities listed on the Exchange and each Note will trade separately and independently on the Exchange under its own symbol through the BISX Automated Trading System (BATS).
Bahamas Government Stock (BGS) are securities issued by the Government of The Commonwealth of The Bahamas that can be immediately listed and traded over BISX. The BGS Programme began in December 2014 and the Notes just listed become the third tranche to be offered and then listed on the Exchange. The offering period for Tranche 3 was in June 2015
Speaking about this new listing; Keith Davies, the BISX Chief Executive noted: “We are happy to add an additional tranche of BGS to the two existing tranches listed on BISX. The real time pricing and trading of BGS in a regulated and free market is an essential step in the growth of The Bahamian capital markets. Government debt the world over is the security used for establishing the benchmark risk pricing against which all other securities in a capital market are judged and so we are happy to add more government securities that contribute to the evolution of our market.”
Mr. Holland Grant, BISX Chief Operating Officer explained the naming convention used by BISX to differentiate the symbols of the various notes. “Our purpose in the symbol naming convention was to create a simple and unambiguous means that can be used repeatedly for different notes and tranches.”
Mr. Grant went on to say: “Each security listed on BISX is given a unique symbol for ease of identification. For BGS each security is identified by a 6 character symbol intended to uniquely identify that security, for example, a BGS Note with the symbol BG0307 could be broken down to identify the following:
• The first two characters will be the same for all BGS, namely “BG”;
• The second two characters will reflect the tranche that these particular bonds were issued under, the tranche number is displayed on page one of the Offering Memorandum for each tranche. Tranche 3, was issued in June 2015 and included 3 year bonds, 5 year bonds, 7 year bonds and 30 year bonds, all bonds issued under that Tranche would have “03” as their second two characters.
• The last two characters would reflect the term of the individual bonds, so the seven year bond would have “07” as the last two characters. Accordingly, the seven year bond issued under Tranche 3, would be represented by the following symbol: “BG0307”.
Tranche 3 was issued in June 2015 and consists of 4 Notes of various maturities.
NOTE: Attached to this message is the BISX Trading Notice for the Notes of BGS Tranche 3. This notice advises the public of the securities to be listed on the Exchange and the symbol of the listed securities.
For Additional Information Contact:
Tel: 242-323-2330Trading Notice – BGS notes Tranche 3