Bridgetown, Barbados. August 8th, 2018 – The Barbados Stock Exchange Inc. (BSE) is pleased to announce that, effective June 8th, 2018, Coin Start Limited was duly registered as a Listing Sponsor in good standing of the International Securities Market (ISM). As a Listing Sponsor, Coin Start is authorized to engage with companies – both domiciled in Barbados and abroad – that may be seeking a primary or secondary listing of securities. The Listing Sponsor’s primary role is to conduct the necessary due diligence on a company (Issuer) to ensure that it is fit and proper for listing on the ISM and act as liaison between the Issuer and the BSE. The Listing Sponsor is also responsible for ensuring that, once listed, the Issuer is in compliance with its continued obligations under the Rules of the ISM.
On receipt of approval notification from the Executive Committee of the ISM, Sean Lowry, Managing Director of Coin Start Ltd. said, “Our team has found working in Barbados and with the Barbados Stock Exchange’s management to be a very easy experience. Their approval of our application is deeply appreciated, and their transformational commitment to listing and trading blockchain enhanced securities on the International Securities Market (ISM) platform is important progress in capital markets. We are particularly keen to be the first firm to work with issuers of blockchain enhanced securities representing debt, equity, real estate, and futures. It is a pleasure and a privilege to work hand in hand with the Exchange to achieve our goal of a leading exchange for the most sophisticated products.”
Marlon Yarde – Managing Director of the BSE stated, “We are pleased to announce Coin Start Ltd. as the sixth Listing Sponsor for our International Securities Market. Coin Start’s focus – on procuring securitized token listings – is welcomed. The BSE embraces the concomitant responsibility of providing leadership in this field for Barbados.
We are excited to begin welcoming new and innovative listings to our Exchange. We enjoy a particularly interactive dialogue with Coin Start. Their participation – and keen support – is a valued addition to our core group of Listing Sponsors and lends further credibility to the competence and capability of our ISM ecosystem. We look forward to working with Coin Start’s team to ensure the ISM’s success.”
About the International Securities Market (ISM)
The International Securities Market (ISM) was formally launched on March 15th, 2016 at the Hilton Barbados resort. The ISM is a dedicated market for the listing and trading of securities by Issuers, who may or may not be incorporated in Barbados, that would otherwise be listed and traded on other exchanges across the world.
The ISM is structured to operate as a separate market of the BSE, a self-regulatory organization, with a separate set of rules applied to membership, trading, clearing and settlement and listing of international securities only sharing the same disciplinary/hearing processes outlined in the general Rules of the BSE. The ISM is primed to offer a breadth of financial products but will initially focus on vanilla offerings namely: equities, bonds and other fixed interest securities and investment funds – both open-ended and close-ended.
About the Barbados Stock Exchange (BSE)
The Barbados Stock Exchange Inc. is one of the leading stock exchanges in the Caribbean region. It is located in Barbados – a premier location globally for international business and financial services. Formerly the Securities Exchange of Barbados, the BSE was re-incorporated on August 2nd, 2001 with the passage of the Securities Act 2001-13. As a result of the Act, the Barbados Securities Commission, now the Financial Services Commission (FSC), was established. The FSC has overall regulatory responsibility for the entire Barbadian Capital markets including all Self-Regulatory Organizations (SROs), of which the BSE and its subsidiary the Barbados Central Securities Depository Inc. (BCSDI) comprise, as well as all public companies whether listed or not.
The Barbados Stock Exchange Inc. is an Affiliate Member of the World Federation of Exchanges (WFE).
About the Barbados and the International Business Sector
Barbados is a quality destination that is trusted and well regulated, following international best practice in capital market regulation. Though small in size, Barbados enjoys a stable and well-established democracy with a long tradition of respecting the rule of law and property rights and excellent infrastructure.
Barbados is the only low tax wealth management jurisdiction in the Caribbean with a comprehensive tax treaty network. Double taxation agreements (DTAs) ensure that foreign nationals – covered under Barbados’ international tax treaty network – are exempt from withholding taxes on dividends, interest or royalties realized locally. The island has 40 DTAs already in place.
Coin Start Limited
Coin Start Limited is registered as a Listing Sponsor in good standing with the International Securities Market (ISM) of the Barbados Stock Exchange. Coin Start specializes in ICOs and sponsoring the public listing and trading of blockchain security tokens. We are the first company to focus on working with the issuers of equity, debt, real estate, and futures to integrate blockchain technology in instruments listed and traded on a registered national stock exchange. Coin Start is a wholly-owned subsidiary of Cotswold Insurance (Barbados) Limited, which is a Barbados Qualified Insurance Company and a member of the St. James Group of companies.