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BISX Signals New Partnership With Bloomberg

by Amanda Banks, Tax-News.com, London

12 September 2003


The Bahamas International Securities Exchange announced an alliance with the globally recognised financial market information and news provider Bloomberg this week as the exchange strives to modernise information flows between companies and shareholders through its website.

According to the Keith Davies, acting chief executive officer of the exchange, Bloomberg and BISX have been developing a relationship over the past two months that has resulted in the firm using its logo on the BISX website. "They are interested in having alliance with us to share our info," Mr. Davies commented.

Though the world renowned market information provider currently uses data from the exchange's website, Mr Davies explained that the future plan would be to allow Bloomberg access to the BISX exchange trading system to provide more complete information. "So they would come to us before anyone else to find out information about our capital market," Mr. Davies said, adding that there would be the added bonus of raising the credibility of the exchange and publicising it to investors worldwide.

At present the exchange is in the process of developing its website to facilitate a greater flow of information between firms and shareholders. "What I am moving towards is saying look, however you create your financials you need to create them in an electronic form. That's probably the way we are going to move initially. And that electronic form is dispatched to me," said Mr Davies.

"If something of value happens to your company, you hire a new person that is supposed to add value, tell your shareholders," he urges.

A comprehensive report describing the thirteen offshore stock exchanges, their specialisations and regulatory structure, is available in the Tax News Reports Shop at http://www.tax-news.com/reportshop

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