The Barbados Stock Exchange is seeking to increase its efficiency and attract more investors by reducing the length of time it takes to settle stock transactions.
Currently, share transactions on the BSE are settled on a T+5 basis- in other words, five days after the initial transaction took place. According to the BSE's General Manager, Marlon Yarde, the exchange wants to reduce this settlement cycle to T+3, a move he says will improve risk management by decreasing the likelihood of default on a transaction that is in the process of clearing.
The T+3 system is currently used by the Jamaica Stock Exchange, and it is the other exchanges in the region are also aiming to reduce the length of their settlement cycles.
The proposal, which Yarde told the Barbados Advocate has the broad support of local stock brokers, must be approved by the Barbadian regulator, the Securities Commission, before it can be implemented.
A comprehensive report in our Intelligence Report series examining offshore investment, offshore stock exchanges, and hedge funds is available in the Lowtax Library at http://www.lowtaxlibrary.com/asp/subs_reports.asp and a description of the report can be seen at http://www.lowtaxlibrary.com/asp/description_report9.asp
Network Tweets
Network BlogsContent
provided by
|
Archive | Resources | Partners | Site Map | Links | Newsletter Archive | Contact | RSS Feeds | About | Syndication | Advertising & Marketing | Recruitment | Terms & Conditions | Privacy
Copyright © 2012 - All Rights Reserved - Tax-News.com
IMPORTANT NOTICE: Tax-News.com has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
Write a comment