Trayport will replace an existing exchange system at BSE. It will supply an advanced equities and bonds trading system which will also support clearing, settlement, depository, and registry through integration with the Depend product from Percival Systems.
Marlon Yarde, CEO and GM of BSE, said: “The Barbados Stock Exchange had been diligently seeking an adaptable and modern electronic trading platform offering us the ability to expand our trading of equities, bonds and other investment instruments. In addition, the integration with Percival’s Depend product will allow us to expand our capability with state of the art clearing systems as we seek to establish an International Securities Market.”
Luis Santine, CEO for the DCSX, said: “Complementing the services offered by the financial institutions and service providers in the Dutch Antilles, Trayport’s Exchange Trading System will enable DCSX to offer services to issuers of government-owned bonds wishing to tap the local and regional capital markets.
“This supports the development of our equity, ETF and bond markets. The flexibility and scope of the system were major factors in our procurement decision. We spoke to a number of exchange suppliers, but believe Trayport is the only one which will enable and foster our growth as a leading exchange in the region.”
Adrienne Muir, head of Trayport, said: “The contract with Barbados Stock Exchange and the Dutch Caribbean Securities Exchange is part of our growing partnership with exchanges in the Caribbean, as they develop their business in the region. Trayport’s Exchange Trading System now gives exchanges a fully integrated front to back solution with support for clearing, settlement, depository, and registry. This reflects the importance markets worldwide place on our systems allowing exchanges to grow as their markets develop.”
Trayport Exchange Systems, a business unit of Trayport producing software for exchanges worldwide, is a provider of software to the European commodity trading community.
Bridgetown-based BSE is among four major regional Caribbean stock exchanges. The others are the exchanges of Jamaica, the Eastern Caribbean, and Trinidad and Tobago. It is working with the Jamaica and Trinidad and Tobago exchanges in a cooperation programme known as the Caribbean Exchange Network (CXN), which will facilitate the establishment of a regional capital market in the Caribbean.
The Dutch Caribbean Securities Exchange (DCSX) is a newly formed exchange in Curacao, Netherlands Antilles. DCSX will provide listing and trading service for international and regional corporations and investment funds.
