Market Notice: Discontinuation of Public Brokerage Service
Published: Monday January 31st, 2022
31 January, 2022
Discontinuation of Public Brokerage Service
Historically, the Central Bank of The Bahamas (Central Bank), in its capacity as Registrar and Transfer Agent for Bahamas Registered Stock (BRS) and Treasury Bills (TB), facilitated primary and secondary market access to these securities to the general public. In an effort to better align its activities with international good practices, effective 1 January, 2023, the Central Bank will cease to offer such services to the general public. The scope of services offered to the general public will unwind throughout 2022, with the following key dates:
- Effective 1 March, 2022: The Central Bank will cease to onboard new investors for Bahamas Government securities. This means that new entrants into the Bahamas Registered Stock or Treasury Bill market will be required to do so through a BISX-registered broker-dealer, a list of which can be found at: https://bisxbahamas.com/broker-dealers/.
- 1 April, 2022 through 31 December, 2022: All existing Central Bank Bahamas Government security clients will be required to transfer their portfolios to a BISX-registered broker-dealer. The Central Bank will contact existing clients directly to advance this initiative.
- Effective 1 January, 2023: The Central Bank will cease to provide securities trading services on behalf of security holders, as these services will be available through BISX-registered broker-dealers with direct access to BISX and the Bahamas Government Securities Depository.
The Central Bank will engage with broker-dealers throughout the process to coordinate a smooth transition for investors.
For assistance, please contact us at
Tel. (242) 302-2620 or (242) 357-4881 (WhatsApp)
To escalate customer service issues, please contact
[email protected] or [email protected]