Professionalism in the establishment of Barbados ISM
Tuesday June 07 2011 | 04:18 AM

“THE establishment of the International Securities Market (ISM) will be beneficial not only to the international business community, but to the economy as a whole.”

This is the message Marlon Yarde, CEO and General Manager of the Barbados Stock Exchange (BSE) delivered to the recently held Barbados Bar Association Seminar held at Hilton in his address “Barbados’ Future International Trading Floor: Opportunities for Lawyers and Other Professionals”.

He explained, “The ISM is a vital step towards making Barbados the premier capital market hub for the region and supports Government’s recognition of the important role the International Business Financial Sector (IBFS) plays in the development of this great nation.

“ISMs, as mentioned before, are by no means a new concept as there currently are quite a number of successfully operated ISMs across the globe; most notable of which are those operated by the Bermuda Stock Exchange (BSX) [and] Cayman Islands Stock Exchange.”

Yarde indicated, “Currently, we do things which most of us would consider mediocre to moderately well, at best. Those on the outside looking in however, see a much different picture.

“They see processes and procedures that are too cumbersome and time consuming; a legislative and regulatory framework that is too vague and/or extensive or incapable of reacting in an efficient and effective manner to take advantage of any opportunities which may arise locally, regionally or globally.