The Bahamas International Securities Exchange (BISX) has announce that Societe Generale Private Banking (Bahamas) has applied for and been approved as a BISX Sponsor Member for the listing of mutual funds on the Exchange.

As a result, Societe Generale Private Banking (Bahamas) Ltd. (Societe Generale) will be added to the roster of eligible Sponsor Members that are qualified to introduce mutual fund listings to BISX.

Societe Generale becomes the sixth Sponsor Member to join BISX, and brings to the Exchange a wealth of experience in the areas of private banking, wealth and fund management. Societe Generale has been a BISX Broker Dealer Member since September 2001, and now adds Sponsor Membership to their existing membership.

Keith Davies, CEO, BISX, said: "We are pleased to have Societe Generale join BISX as a Sponsor Member. Societe Generale has maintained a relationship with BISX going back to BISX’s inception in 1999, we are grateful to Societe Generale for having always been one of the most supportive corporate citizens when it comes to the Exchange. Offshore jurisdictions such as The Bahamas thrive only when corporate citizens contribute to national institutions such as the national stock exchange, as a result developments such as this are crucial to BISX’s growth and development."

BISX Sponsor Membership allows professional organizations to introduce applicant investment funds to the Exchange after which they are eligible to be 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 is made by the BISX Membership Committee.

BISX 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.