Recovery of BISX Trading Fees
Published: Tuesday August 1st, 2023
1st August 2023
RECOVERY OF BISX TRADING FEES
The Central Bank of The Bahamas, in its capacity as Registrar and Transfer Agent for Bahamas Registered Stock and Treasury Bills, purchases securities in the secondary market, as needed, to provide liquidity in cases where the market is unable to organically do so. Since May 2021, Bahamas Government securities have been listed on and traded across the Bahamas International Securities Exchange (BISX), which charges a fee of five basis points plus VAT for transactions conducted across the Exchange. Since then, the Central Bank has absorbed these charges, effectively subsidizing transactions costs for the secondary market.
In its continued efforts to develop the domestic debt market, support price transparency in market transactions, and strengthen the Central Bank’s strategic position as the liquidity provider of last resort, effective 1st October 2023, the Central Bank will begin to recover the BISX-imposed charges by passing them on to its secondary market counterparties involved in the respective transactions. This means that, in addition to the fees currently charged by brokers, an additional five basis points may be passed on to the ultimate customer.
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