Log In

Reset Password

BSX and CISE sign co-operation agreement

First Prev 1 2 Next Last

The Bermuda Stock Exchange and the Channel Islands Securities Exchange have signed a Memorandum of Understanding (MoU) to explore the opportunities offered by working closer together.

The CISE is best known for listing investment vehicles, including open and closed ended fund structures, and international debt securities. BSX provides a fully electronic stock exchange platform to Bermuda's domestic capital market and is known for supporting the global reinsurance and capital markets through the listing of a variety of investment vehicles such as fund structures and insurance-linked securities.

The exchanges have now agreed to look at areas for co-operation across both the commercial and regulatory aspects of their businesses.

Fiona Le Poidevin, chief executive officer of the CISE, said: “I'm delighted that we've signed this agreement with BSX. I believe that there is significant scope for us to co-operate with similar exchanges as a way to harness synergies in our businesses and to that end, BSX is an ideal partner.

“Our two exchanges differ in geographical location and market strengths so there is plenty of scope to leverage these complementary offerings in order for each exchange to diversify its product range and broaden its international appeal as a way to promote further growth. I'm really looking forward to closer co-operation with BSX and seeing what we can achieve together in the future.”

The MoU means that the two exchanges will start to look into ways of working together, including the cross-fertilisation of regulatory best practice, information exchange in relation to market developments, potential resource sharing and joint promotional activities.

Greg Wojciechowski, CEO of BSX, said: “This is a really exciting development for both exchanges. Larger exchanges have taken similar action seeking to create synergies through closer co-operation or even formal collaboration, such as is the case with the London Stock Exchange and Deutsche Bourse at the moment.

“The MoU signed with the CISE illustrates that smaller, niche focused exchanges are being entrepreneurial and forward thinking in relation to their strategic development.

“I believe that closer co-operation between BSX and the CISE offers significant potential benefits to both exchanges, our clients, investors and the domestic economies which we serve. Both I and the BSX are looking forward to working with Fiona and the CISE team to maximise the potential of this MOU.”

Greg Wojciechowski, CEO of the BSX
Fiona Le Poidevin, CEO of the CISE

You must be Registered or to post comment or to vote.

Published November 22, 2016 at 11:35 am (Updated November 22, 2016 at 11:35 am)

BSX and CISE sign co-operation agreement

What you
Need to
1. For a smooth experience with our commenting system we recommend that you use Internet Explorer 10 or higher, Firefox or Chrome Browsers. Additionally please clear both your browser's cache and cookies - How do I clear my cache and cookies?
2. Please respect the use of this community forum and its users.
3. Any poster that insults, threatens or verbally abuses another member, uses defamatory language, or deliberately disrupts discussions will be banned.
4. Users who violate the Terms of Service or any commenting rules will be banned.
5. Please stay on topic. "Trolling" to incite emotional responses and disrupt conversations will be deleted.
6. To understand further what is and isn't allowed and the actions we may take, please read our Terms of Service
7. To report breaches of the Terms of Service use the flag icon