Barbados Stock Exchange

4 BUSINESS VIEW CARIBBEAN VOLUME 9, ISSUE 10 cryptocurrencies, but as a stock exchange, we shied away from that because we are regulated to list and trade securities. However, what caught our attention was the technology behind Bitcoin and the other cryptocurrencies - blockchain technology.” “We decided to collaborate with a company called Block Station based in Toronto, Canada, to help us understand how we can utilize the blockchain technology at the BSE. At the time, we also learned that the Jamaica Stock Exchange was looking at blockchain technology.” From 2017 to 2020, the BSE worked closely with Block Station through discussions, meetings, training sessions, and pilot projects with brokers and the Financial Services Commission of Barbados to understand the Block Station platform and how it can work for the BSE. “The FSC was developing frameworks for innovative technologies including blockchain, so they set up a regulatory sandbox with the Central Bank of Barbados to allow companies like Block Chain evaluate their products and services.” The sandbox helps companies like Block Station understand how their technologies fit within existing regulatory frameworks and determine whether there is a need to develop new ones. For the BSE, working closely with the Barbados FSC in developing new technology frameworks is critical in ensuring it meets International Organization of Securities Commissions (IOSCO) requirements, of which the FSC is a member. “In integrating blockchain technologies, we must satisfy key ISOCO criteria,” Yarde says. “In particular, investor protection and systemic risk reducing systemic risk in any system, which Block Station solved by offering an end- to-end solution with token listing, KYC, AML, settlement, custodial requirements, and registrar components all built into the system.” We are Driven by Service Excellence Centurion ISM Services Inc. (“Centurion”) is a Listing Sponsor which provides listing sponsor services exclusively for the International Securities Market of the Barbados Stock Exchange (“ISM”). A Listing Sponsor is a company or partnership approved by the Barbados Stock Exchange (“BSE”) to act as an ISM listing sponsor on behalf of applicants and listed issuers, and that is regulated by the ISM listing sponsor rules. Centurion is an a liate of Chancery Chambers – a prominent law rm and Centurion Assurance Services Ltd. – a captive insurance management company. Sir Trevor Carmichael - Director tac@chancerychambers.com Andrew Ferreira - Director acferreira@chancerychambers.com Giles Carmichael - Director gcarmichael@chancerychambers.com Kyle Rudder - Vice President klr@centurionassurance.com +1 (246) 624-7873  |  www.centurion-ism.com ist ssist L A Listing Sponsor for the International Securities Market of the Barbados Stock Exchange Advice to the potential issuer on the application process, listing requirements and obligations under the ISM Rules Acting as the primary point of contact with the BSE on behalf of the potential issuer/listed entity Advice and assistance in connection with ongoing regulatory filings and compliance on behalf the listed entity PARKER HOUSE, WILDEY BUSINESS PARK WILDEY ROAD, ST. MICHAEL, BARBADOS 246-436-6287 | gillian.clarke@clarkes.com.bb BARBADOS STOCK EXCHANGE