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ECSE Witnesses Steady Growth On Second Anniversary

by Amanda Banks, Tax-News.com, London

24 October 2003


The Eastern Caribbean Securities Exchange (ECSE) celebrated its second birthday on October 19 and according to the institution’s General Manager, Baljit Vohra, has continued to perform steadily despite the recent turbulence in securities markets both regionally and internationally.

"The Eastern Caribbean Securities Exchange is a uniquely powerful engine of change and innovation that will contribute to economic prosperity in the region," claimed Mr Vohra, noting the launch in November 2002 of the Regional Governments Securities Market (RGSM) which has since raised $212 million as one of the bourse's more significant achievements.

In addition, the ECSE has managed to increase the number of secondary listings from two to ten and has seen the number of intermediaries on the exchange rise from four to seven with FINCOR Grenada expected to add to this number this month.

The ECSE also facilitated the first initial public offering of the Anguilla Electricity Company which was oversubscribed by 30% and raised the Anguillan government some EC$15 million.

"The ECSE has also finalized a strategic alliance with Bloomberg News, wherein Bloomberg carries end-of-day market information on ECSE trading activity on its worldwide terminals," added Mr Vohra.

The exchange, which is located in St Kitts, serves a combined population of around 550,000 people from Anguilla, Antigua, Dominica, Grenada, Montserrat, St Kitts and Nevis, St Lucia, and St Vincent, all of which are united by a single currency (Eastern Caribbean Dollars), which is managed by a regional Central Bank.


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