Invest at the Barbados Stock Exchange 
Barbados Investments and Stocks
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Barbados Stock Exchange
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The Barbados Stock Exchange (BSE), formerly the Securities Exchange of Barbados, was re-incorporated on August 2nd, 2001 with the passage of the Securities Act 2001-13, which also enabled the establishment of the Barbados Securities Commission. The Commission is responsible for regulation of the Barbados Capital Market, including all public companies whether listed or not. |
The affairs of the BSE are administered by a Board of Directors through a General Manager. The Board of the BSE consists of four designated members, four elected and one independent.
The Trade System
Only Members or their authorized Brokers may trade on the Exchange. A Broker may trade for his own account where he acts as principal or a member may become an agent and trade on behalf of a client.
On July 4, 2001, the Exchange switched from the manual, open auction outcry method of trading, to electronic, trading using the Order routing method. Orders/calls may be given at specific prices within a 10% limit above or below the previous closing price. Orders are queued immediately but trades occur only when two or more orders match.
Limit orders at specified prices are executed at that price or better and it is the responsibility of the Brokers to ensure that clients settle their accounts/trades within the specified time of T+5, or five business days after trade day. Effective January 1st 2006 this settlement cycle was reduced to T+3.
Barbados Central Securities Depository Inc. (BCSDI)
The BCSDI is a wholly owned Subsidiary of the Barbados Stock Exchange. It is a facility for holding securities and enables share transactions to be processed by book entry. A Book Entry System facilitates the change of ownership of Securities electronically, without the need for the movement of physical documents, i.e. the BCSDI is an electronic means of recording the ownership of shares.
The BCSDI registers the stock in the name of the beneficial owner. The certificates are physically held in our vault. The BCSDI also records the securities movements in the name of the beneficial owner using the National Identification Number. The BCSDI's book entry system has shortened the settlement cycle and ensures that investors receive payment for shares sold and ownership of shares purchased within a shorter time.
Listing Requirements
A company wishing to list on the Exchange must apply for a Listing and must meet the following basic criteria before the listing is approved:
- The Company must be registered and in good standing with the Registrar of Companies;
- Be a profit making venture with minimum assets of one million dollars;
- Demonstrate adequate working capital (based on the last three (3) years financials and three (3) years projections);
- Evidence of competent management;
- Have a positive dividend profile over the three preceding years.
After approval by the Barbados Stock Exchange, Listed Companies, including Officers and Directors, must observe and comply with the Rules and By-Laws of the Exchange and are required to meet on-going requirements outlined in the Listing Agreement as well. These include requirements for disclosures of the interim and audited Financial Statements as well as any material changes affecting the affairs, business, operations or capital structure of the company which could in any way affect the shareholders.
Junior Market
The Junior Market commenced operation in October 1999 and its intention is to cater to those smaller or newer public companies, which may not meet all the necessary requirements for listing in the Regular Market such as financial requirements and history. There ongoing listing requirements of providing financial information as well as information on any material changes in the organization must be provided similar as to that required by companies listed on the Regular Market.
Chairpersons and General Managers
Over the years the Barbados Stock Exchange and its forerunner the Securities Exchange of Barbados has been served with some outstanding Chairpersons.
The first was Mr. Colin Goddard who served from June 1, 1987 to December 17, 1997.
He was followed by Mr. Shastrie Ablack who served from December 17, 1997 to November 1998.
The Third Chair was Mr. Neville Smith who served from June 18, 1999 to May 4, 2000.
He was followed by Dr. Patricia Downes-Grant who served from July 14, 2000 until November 23, 2004.
The current Chair of the Exchange is Mr. Andrew St. John who took over on November 23, 2004.
The Exchange have been ably served by its three General Managers and one Acting General Managers over is eighteen year history.
They were Mr. Anthony Johnson who was General Manager from February 1, 1986 to June 30, 1994. Mr. Johnson was responsible for the setting up the Securities Exchange of Barbados and he saw the first trades occur on June 12, 1987.
He was followed by Mrs. Virginia Mapp who served from September 1, 1994 to December 31, 2002. Mrs. Mapp was responsible for the transition of the Exchange from the Securities Exchange of Barbados to the Barbados Stock Exchange Inc. on August 2, 2001 and also the move from an open out-cry method of trading to full electronic trading.
During 2003, from January 1, 2003 to October 31, 2003, Ms. Tessa Pickering acted as General Manager. During this period Ms. Pickering oversaw an important change within the electronic trading engine with the introduction of tightly-coupling system. The system of tight-coupling ensures that trades are transmitted as "matched" transactions. This means that details of the trades from buyer and seller have already been matched (and verified) by the computer.
The current General Manager of the Barbados Stock Exchange Inc. is Mr. Marlon Yarde who took up the position from November 1, 2003. He has the mandate of promoting the activities of the Exchange through education to foster an environment of confidence and trust in the activities of the capital markets, so that all Barbadians would participate in the trading of financial instruments.
Our Vision, Our Mission
Our vision is simple, "To be a great and lasting Caribbean Institution by facilitating wealth creation through trading on an efficient and cost-effective Exchange."
We will achieve our Vision through our Mission, "We intend, through education, to foster an environment of confidence and trust in the activities of the capital markets, so that all Barbadians would participate in the trading of financial instruments."
Barbados Stock Exchange Inc.
1st Floor, Carlisle House
Hincks Street
Bridgetown
BB11000
Barbados.
http://www.bse.com.bb
Call (246) 436-9871
Located in St. Michael, South West Coast
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Information Assumed Accurate On: Jun 30, 2007
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