The **Bahamas International Securities Exchange (BISX)** reports that Colonial Pension Services (Bahamas) Limited, a subsidiary of Colonial Group International Limited of Bermuda, has been approved as a Trading Member. The firm becomes the fifth BISX Broker Dealer Member.
Keith Davies, Chief Executive Officer of BISX, says *“We are extremely pleased to welcome Colonial Pension Services as our newest Member. I think it is important, however, to point out that Colonial Pension Services will function as a trading agent for its clients only, as opposed to the general public.”*
Commenting on the significance of this type of specialist Member, Mr. Davies points out that *“We expect that as our market evolves and we begin to see the advent of pension legislation, there will be a move by more entities to enter the pension fund administration and asset management arena. Colonial Pension Services has obviously taken a very proactive approach to be ahead of the market in this regard, and have taken steps to establish a relationship and ultimately a track record with BISX where the vast majority of all pension funds will be invested.”*
By becoming a BISX Broker-Dealer Member, the firm is able to effect exchange-based transactions on behalf of their clients in a swift, cost-efficient manner. Larry Gibson, Vice President of Colonial Pension Services, says *“This is another step towards our goal of becoming a major player in the pension and asset management business locally, while leveraging our extensive regional and international expertise and scope.”*
Mr. Davies notes that BISX is committed to fostering the growth of The Bahamian Capital Markets, and a focus in carrying out this goal is increasing the number of investment alternatives as well as the investment avenues available to investors.