Business View Caribbean | October 2022

29 BUSINESS VIEW CARIBBEAN VOLUME 9, ISSUE 10 initial coin offerings and cryptocurrencies, but as a Stock Exchange, we shied away from that type of business because we are regulated to list and trade securities. However, what caught our attention was the technology behind Bitcoin and other cryptocurrencies – i.e., blockchain technology.” “We decided to collaborate with a company called Blockstation, a company based in Toronto, Canada, to help us understand the space and how we can utilize the blockchain technology at the BSE. At the time, we also learned that another regional stock exchange was considering the use of blockchain technology in their operations.” From 2017 to 2020, the BSE collaborated with Blockstation. Through discussions, meetings, training sessions, pilot projects with our brokers and our regulator, the FSC– a successful effort was made to understand the Blockstation’s platform and how BSE and Blockstation can partner to bring digital assets (specifically security tokens) to the BSE for the global markets. “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 the facility to evaluate their technologically innovative products and services.” The sandbox helps technology companies understand how their technologies fit within existing regulatory frameworks and determine whether there is a need to develop new regulations. For the BSE, working closely with the Barbados FSC in developing new technology, this framework is critical in ensuring international standards and best practices are met, particularly International Organization of Securities Commissions (IOSCO) Objectives and Standards, 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