What is the “ISM?”
ISM is simply an abbreviation for “International Securities Market”. This 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 around the world.
Is the ISM an autonomous market? Who oversees its operations?
The ISM is a trading platform established by the Barbados Stock Exchange (BSE) for the purpose of trading international securities. 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.
Simply put – other than sharing the same disciplinary/hearing process, the general rules of the BSE do not apply to the ISM. Day-to-day decisions on matters relating to the interpretation and application of the rules are made by the ISM executive committee subject to supervision by the board. This allows for a speedy decision-making process.
What are the benefits of listing on the international securities market?
The International Securities Market (ISM) was created to accommodate the needs of a wide range of international business. Specifically, the ISM will provide:
- Access to capital for earlier stage companies and smaller financings
- Quality corporate governance for investors
- One-to-one mentorship – listing sponsors offer fair and impartial advice on the listing process and accompanying requirements
- Cost leadership – A low fee structure, relative to competing jurisdictions, keeps the focus on value creation instead of budgeting.
Who can be involved?
The ISM will attract member participants from the local brokerage community, accountants, attorneys as well as current and prospective international offshore banks, international business entities, and international securities dealers. Member participants will fall into one of the following categories:
- Issuers
- Trading Members (brokers, dealers, market makers)
- Listing Sponsors
- Clearing Agents
What are the financial products?
The ISM is primed to offer a breadth of financial products. Initially, the focus will be on:
- Equities (trading companies)
- Bonds and other fixed interest securities
- Investment Funds (open-ended & closed-ended)