SG Hambros Bank and Trust (Bahamas) Ltd. has been authorised to trade shares on the Bahamas International Securities Exchange (BISX), as broker/dealers.
Gerry Ritchie, CEO of BISX, indicates that the move will provide a new avenue for institutional investors to access the market.
SG Hambros joins Colina Financial Advisors and Fidelity Capital Markets -- the only other broker/dealers authorised to trade on BISX. As managers of more than $200 million in local institutional assets, SG Hambros' new trading status should provide a major boost for local capital markets.
"It is most encouraging that an entity such as SG Hambros sees an opportunity to provide specialized professional services for its institutional clients in The Bahamas", said Keith Davies, Chief Legal and Compliance Officer of BISX. Demo Moss, Portfolio Manager at SG Hambros, added "Our desire to become a trading member at this point demonstrates our commitment to the continued growth and development of an orderly, transparent and fair market for all participants."