The Bahamas International Securities Exchange is publishing its Official Index on its web site, with the intent of providing a barometer of the Bahamian market. Acting Chief Executive Officer Keith Davies says that the site also will publish historical trading reviews, incorporating information dating back to May 2000, the date BISX began live trading.
In addition to information on products and services, BISX plans to use its redesigned site to consult with the capital markets industry and the investment community. It will feature investor resources and links to other sites as well. Said Mr. Davies, *”The BISX website is a logical step in the development of our markets, and is designed to complement and support the operational and regulatory activities of the exchange.”*
In an earlier address to the Bahamas Investment Conference, Mr. Davies reported that BISX was preparing to issue rules on corporate government; specifically, to further protect shareholders with small stakes in publicly-listed companies, creating rules to define the composition of the boards of these firms, and their independence from management. By setting standards to guide corporate governance, BISX hopes to promote greater accountability on the part of administrators for their company’s performance. At that time, The Acting CEO said *“The Bahamas’ capital market is still in its infancy, and we cannot afford to wait until we are rocked by scandal before proper safeguards are put in place to address such issues.”*
A government-appointed Committee, led by Central Bank Governor Julian Francis, currently is reviewing public policy measures necessary to support the exchange. This follows a study by capital markets experts earlier in the year.