The Securities Commission of The Bahamas (SCB) has approved an increase in the fee for Domestic Primary Equity Listings on the Bahamas International Securities Exchange (BISX) from $2,500.00 to $5,000.00.
The approval by the SCB was in response to a request by BISX, and in accordance with Regulation 7 of the Securities Industry Regulations 2000 which require that a Securities Exchange shall apply to the Securities Commission for permission to make any amendments to its fees.
In considering the fee increase, the SCB took into account results of consultations with companies listed on BISX, who indicated their overwhelming support for such an increase. Prior to the present increase, the listing fee had remained at the level fixed at the time of its establishment.
According to a release from the SCB, it also took into consideration listed fees applied by regional exchanges, notably Barbados, Jamaica and Trinidad and Tobago, and was satisfied that the increase requested was reasonable and would not impact adversely on the competitive position of the jurisdiction.
BISX was incorporated in September 1999, and in May 2000 successfully launched its domestic market for the listing and trading of local public companies. Subsequently, in April 2001 BISX launched a Mutual Fund listing facility. This listing facility is targeted at meeting the needs of international investors, who may require the extra visibility afforded by a listing on an established securities exchange as a basis for their choice of investment vehicle.