by bisx_admin bisx_admin No Comments

BISX Signs Digital Securities Exchange Technology Licensing Agreement

FOR IMMEDIATE PUBLICATION 20 MAY 2019

The Bahamas International Securities Exchange (BISX) is pleased to announce the execution of a term sheet for a technology licensing agreement between BISX and BRX Holdings, LLC (BRXH). The agreement will allow two parties to collaborate in launching a Digital Securities Exchange in The Bahamas. The newly launched platform will allow global investors to trade programmable digital assets and securities. This exchange is aiming to become the world’s leading regulated exchange for primary issuances and secondary trading of regulated digital instruments.

BISX, with its regulatory and securities exchange operational experience, will combine efforts with BRXH financial technologies to provide institutional grade primary issuance and secondary trading of digital assets and programmable securities. The partnership will benefit from the trading and compliance technology, industry know-how and operational excellence of both parties. BISX is registered with The Securities Commission of The Bahamas (the “Commission”) as a “Marketplace” pursuant to the Securities Industry Act, 2011, and is the national stock exchange of The Bahamas. BISX began operations in 2000 and serves as a marketplace and a regulatory authority. BISX is an Associate Member of the International Organization of Securities Commissions (IOSCO), and is designated by the UK HM Revenue and Customs as a “recognized stock exchange”. BISX is also registered with the US Securities and Exchange Commission (SEC) as a Designated Offshore Securities Market.

BRXH, a FinTech company planning to operate in The Bahamas, is founded by executives with deep roots in quantitative investing, trading and issuance of traditional and digital securities.

The exchange will provide a programmable digital securities trading and marketplace for global users. The exchange will also provide a framework for private companies to list their security tokens for regulatorily compliant trading including an application process and continuing obligations for the listed equity tokens.

Speaking of this new development, BISX CEO; Keith Davies noted: “This is a momentous day for the Exchange. We have had the opportunity to meet with many groups over the last several years in the fields of blockchain and digital assets; however, BRXH offered the best combination of strengths in the areas of technology, operational experience in this space and financial partnerships that we have identified as necessary to make this exchange a success. BISX for years has invested in its regulatory reputation and knowledge base in order to be in a position to pursue partnerships such as this, and so we are happy to proceed with BRXH as our partner in this new venture. We look forward to this partnership being a benefit to many issuers and investors in this space as they look for regulated exchanges for their digital securities. We also anticipate this benefiting our jurisdiction as professionals will be exposed to and become expert in a new asset class.”

In keeping with its mandate to exceed all regulatory requirements, BISX has been in continuous contact with the Securities Commission of The Bahamas throughout all phases of this proposal. The Commission has agreed for BISX to proceed with the development of the proposed Digital Securities Offerings’ Exchange, subject to regulatory conditions.

BISX and BRXH plan to combine their collective experiences in operating digital security exchanges and their expertise of blockchain capital markets to offer access to premium digital products. To address regulatory requirements, the exchange will automate compliance processes for qualified investors with state-of-the-art KYC/AML technology with the final checks to be carried out by Bahamian compliance professionals. The exchange will operate under rules filed with and approved by The Securities Commission of The Bahamas.

For Additional Information Contact:
Elude Michel-Sturrup, BISX
Tel: 242-323-2330
Fax: 242-323-2320
Email: info@bisxbahamas.com


To be informed of future developments, please sign up at our form below:

by bisx_admin bisx_admin No Comments

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 bisx_admin bisx_admin No Comments

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.”