Central Bank shuts down public brokerage services – Eye Witness News

NASSAU, BAHAMAS — The Central Bank announced yesterday that starting next month, new entrants to the registered stock or treasury bill market will need to go through a BISX-registered broker as the regulator will cease integration.

The regulator said in a notice yesterday that it was aligning its securities market operations with “international best practice and to take account of recent reforms that allow government debt securities to be actively traded on BISX.”

He also noted that the underlying costs to the financial market around these services will be more transparent and encourage further customer-focused improvements in services and pricing efficiency.

The regulator noted that while historically in its capacity as registrar and transfer agent for the Bahamas Registered Stock (BRS) and Treasury Bills (TB), it has facilitated access to the primary and secondary market for these titles to the general public, it will cease to offer such a service. to the general public from January 2023.

From April 1 to December 31 of this year, all existing Central Bank of the Bahamas Government Security clients will be required to transfer the administration of their wallets to a BISX-registered broker.

The Central Bank will cease providing securities trading services on behalf of security holders, as these services will be available through brokers registered with BISX with direct access to BISX and the Bahamas Government Securities Depository.

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