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BSX announced today, that at ACSDA’s 10th Annual General Assembly in Panama City Panama, the BSX/BSD was admitted to America’s Central Securities Depositories Association. The Caja Venezolana de Valores, S.A. (C.V.V.), Venezuela and Barbados Central Securities Depository Inc. were also admitted.
In making the announcement, BSX President & CEO, Greg Wojciechowski said: “BSX Operations Manager, Neville Caines and I were delighted to represent the BSX/BSD in Panama City to receive the good news and great honour of being admitted to this prestigious association of the Western Hemisphere’s central securities depositories. This milestone certainly punctuates the work that has been done by the BSX in implementing the Bermuda Securities Depository (BSD) and underscores the model that has been deployed to support the further development of Bermuda’s domestic capital market.”
He went on to say: “The BSX/BSD is looking forward to working with this prestigious group as it provides an excellent forum to exchange views and learn more about regional developments in the area of securities clearing, settlement and depository services.”
About ACSDA
ACSDA's main purpose is to be a forum for the exchange of information and experiences among its members in a spirit of mutual cooperation and to promote best practice recommendations in services such as securities depository, clearance, settlement, and risk management. ACSDA's goal is also to support local markets in their efforts to adopt securities market regulations, while considering their specific circumstances and to serve as a dialogue channel with other organizations worldwide.
ACSDA currently has 22 members mostly located in the Western Hemisphere (http://www.acsda.org/english/fr_miembros.html). Both DTCC and CDS are members.
About BSD The Bermuda Securities Depository (BSD) is the BSX’s fully electronic, fully integrated clearing, settlement and depository service, implemented in 2003. The BSD ensures that settlement and safekeeping of BSX listed and traded securities occur electronically in a secure and automated environment. The BSD system reduces the risk of settlement failure, which in turn makes the entire system and market more secure, efficient and safe for retail investors. As of 31 December 2007, 32% of the issued and outstanding shares of BSX listed domestic issuers were lodged in the electronic facilities of Bermuda Securities Depository.
