Source: London Stock Exchange
On Monday, 26th November, the London Stock Exchange and the Barbados Stock Exchange signed a Memorandum of Cooperation to formalise the existing strong ties between the two organisations.
To mark the signing of the Memorandum, trading at the London Stock Exchange was opened that morning by Mr Marlon Yarde, the General Manager and Chief Executive Officer, and Mr Andrew St. John, the Chairman of the Barbados Stock Exchange.
Welcoming the Barbados Stock Exchange, Martin Graham, the Exchange's Director of Markets said: "The MOC will formalise an already strong working relationship between our 2 Exchanges - ensuring better communication between us and the markets we represent. We envisage our co-operation delivering real practical benefits for investors, issuers and member firms alike."
Marlon Yarde, the Barbados Stock Exchange's Chief Executive said: "We welcome the opportunity to sign a Memorandum of Co-operation between ourselves and the London Stock Exchange PLC. The signing of this MOC provides a mechanism for long-term co-operation, to facilitate the channels of communication and foster continuing relationship between the Exchanges for the respective benefit of the financial services industry in the Barbados and the United Kingdom."
Under the agreement, the London Stock Exchange and the Barbados Stock Exchange will establish a formal system of contact between senior executives and agree to exchange information, in order to facilitate orderly trading in the shares of companies admitted to both markets. Sagicor, the leading Caribbean financial services company listed on the London Stock Exchange in February 2007.