The Bahamas International Securities Exchange (BISX) announced today that The Winterbotham Trust Company Limited (Winterbotham) has been approved as a BISX Sponsor Member.
Winterbotham, the seventh Sponsor Member to join BISX, has been added to the roster of eligible Sponsor Members that are qualified to introduce mutual fund listings to BISX. The firm brings to the Exchange a wealth of experience in the areas of fund administration and trust services.
BISX Chief Executive Officer Keith Davies says, "We are pleased to have Winterbotham join BISX as a Sponsor Member. Winterbotham is one of BISX’s original shareholders, and so we regard this as the deepening of an already existing relationship.” He added, “Memberships such as this are essential to the growth and development of our country’s ability to offer differentiated services in the financial services community. As a result we believe that this is an excellent addition to our Exchange and we look forward to engaging Winterbotham on new business development initiatives as well.”
BISX Sponsor Membership allows professional organizations to introduce applicant investment funds to the Exchange with the purpose of these funds being listed on the Exchange under BISX’s Listing Rules for Mutual Funds. In order to become a BISX Sponsor Member, applicant organizations go through a due diligence process with the BISX Executive Staff after which a determination on Membership is made by the BISX Membership Committee.
Ivan Hopper Chief Executive Officer of Winterbotham, also commented on the membership, saying, “It is important for us to continue developing added value services for our fund clients. Listing is one of those important requirements that fund managers look for when setting up a fund and we will now be able to provide a solution in this regard. Our Company is the largest fund administrator by number of funds in The Bahamas, and we expect to be able to sponsor many funds to become listed on the exchange. This will increase our ability to attract funds to The Bahamas and further enhance our offering in our fund services division.”
BISX says it is committed to working with its members to continue to develop value added products and services for the investing public, and for financial services providers and their clients.