The Bahamas International Securities Exchange (BISX) is pleased to announce the execution of a term sheet for a technology licensing agreement between BISX and BRX Holdings, LLC (BRXH). The agreement will allow two parties to collaborate in launching a Digital Securities Exchange in The Bahamas. The newly launched platform will allow global investors to trade programmable digital assets and securities. This exchange is aiming to become the world’s leading regulated exchange for primary issuances and secondary trading of regulated digital instruments.
BISX, with its regulatory and securities exchange operational experience, will combine efforts with BRXH financial technologies to provide institutional grade primary issuance and secondary trading of digital assets and programmable securities. The partnership will benefit from the trading and compliance technology, industry know-how and operational excellence of both parties. BISX is registered with The Securities Commission of The Bahamas (the “Commission”) as a “Marketplace” pursuant to the Securities Industry Act, 2011, and is the national stock exchange of The Bahamas. BISX began operations in 2000 and serves as a marketplace and a regulatory authority. BISX is an Associate Member of the International Organization of Securities Commissions (IOSCO), and is designated by the UK HM Revenue and Customs as a “recognized stock exchange”. BISX is also registered with the US Securities and Exchange Commission (SEC) as a Designated Offshore Securities Market.
BRXH, a FinTech company planning to operate in The Bahamas, is founded by executives with deep roots in quantitative investing, trading and issuance of traditional and digital securities.
The exchange will provide a programmable digital securities trading and marketplace for global users. The exchange will also provide a framework for private companies to list their security tokens for regulatorily compliant trading including an application process and continuing obligations for the listed equity tokens.
Speaking of this new development, BISX CEO; Keith Davies noted: “This is a momentous day for the Exchange. We have had the opportunity to meet with many groups over the last several years in the fields of blockchain and digital assets; however, BRXH offered the best combination of strengths in the areas of technology, operational experience in this space and financial partnerships that we have identified as necessary to make this exchange a success. BISX for years has invested in its regulatory reputation and knowledge base in order to be in a position to pursue partnerships such as this, and so we are happy to proceed with BRXH as our partner in this new venture. We look forward to this partnership being a benefit to many issuers and investors in this space as they look for regulated exchanges for their digital securities. We also anticipate this benefiting our jurisdiction as professionals will be exposed to and become expert in a new asset class.”
In keeping with its mandate to exceed all regulatory requirements, BISX has been in continuous contact with the Securities Commission of The Bahamas throughout all phases of this proposal. The Commission has agreed for BISX to proceed with the development of the proposed Digital Securities Offerings’ Exchange, subject to regulatory conditions.
BISX and BRXH plan to combine their collective experiences in operating digital security exchanges and their expertise of blockchain capital markets to offer access to premium digital products. To address regulatory requirements, the exchange will automate compliance processes for qualified investors with state-of-the-art KYC/AML technology with the final checks to be carried out by Bahamian compliance professionals. The exchange will operate under rules filed with and approved by The Securities Commission of The Bahamas.
