The Barbados Stock Exchange or BSE is Barbados' main stock exchange. Its headquarters are in the capital-city Bridgetown.
The body was establish in 1987 by the Parliament of Barbados as a statutory body under CAP. 318A, Section 44 of the Securities Exchange Act (1982). Under this original charter it was constituted as the Securities Exchange of Barbados (SEB), and remained known as such until August 2, 2001 when Parliament repealed and replaced the prior act with an updated charter under The Securities Act 2001–3
Since July 4, 2001 the BSE has operated under a fully electronic trading utilising the Order routing method. The electronic system succeeds the manual system, which comprised an open auction outcry method of trading.
Although it was given effect by Parliament, the BSE functions as a not-for-profit organisation which is privately owned (by its Members). Authority is vested in a Board of Directors, which is chaired by the General Manager.
The Barbados Stock Exchange is among the four major regional Caribbean stock exchanges. The other three being the exchanges of Jamaica, the Eastern Caribbean, and Trinidad and Tobago. The BSE is the third largest stock exchange in the Caribbean region. The BSE along with officials from Jamaica and Trinidad and Tobago are working to integrate these stock exchanges into a single unit known as the Caribbean Exchange Network (CXN) The Trinidad and Tobago exchange has mooted the establishment of some form of association with the U.S. or Canadian based stock exchanges going forward.
At present, officials at the stock exchange are investigating the possibility of augmenting the local exchange with an International Securities Market (ISM) venture.
The BSE is one of twenty-seven correspondent members of the World Federation of Exchanges (WFE).
The BSE was located at the 5th Floor of the Tom Adams Financial Centre; prior to relocating to 1st Floor, of Carlisle House on Hincks Street in Bridgetown. Most recently, it relocated to Eighth Avenue in the Bridgetown suburb of Belleville, St. Michael.
Read more about Barbados Stock Exchange: Past G.M.s, Listed Companies, Formerly Listed Companies
Famous quotes containing the words stock and/or exchange:
“All that stock of arguments [the skeptics] produce to depreciate our faculties, and make mankind appear ignorant and low, are drawn principally from this head, to wit, that we are under an invincible blindness as to the true and real nature of things.”
—George Berkeley (1685–1753)
“Ants are so much like human beings as to be an embarrassment. They farm fungi, raise aphids as livestock, launch armies into war, use chemical sprays to alarm and confuse enemies, capture slaves, engage in child labor, exchange information ceaselessly. They do everything but watch television.”
—Lewis Thomas (b. 1913)