Barbados Central Securities Depository Inc.
The Barbados Central Securities Depository Inc. (BCSDI) is a limited liability company which was incorporated on October 20th, 1998. The BCSDI facilitates the immobilization of securities, the clearance of trades and settlement of funds through the Central Bank of Barbados and also offers services as Registrar of public and listed companies as well as mutual funds.
The BCSDI is a wholly owned Subsidiary of the Barbados Stock Exchange. It is a facility for holding securities and enables share transactions to be processed by book entry. A Book Entry System facilitates the change of ownership of Securities electronically, without the need for the movement of physical documents, i.e. the BCSDI is an electronic means of recording the ownership of shares.
The BCSDI registers the stock in the name of the beneficial owner. The certificates are physically held in our vault. The BCSDI also records the securities movements in the name of the beneficial owner using the National Identification Number. The BCSDI's book entry system has shortened the settlement cycle and ensures that investors receive payment for shares sold and ownership of shares purchased within a shorter time.
The BCSDI is a partner of the Association of National Numbering Agencies (ANNA) and is responsible for assigning all International Securities Identification Numbers or ISINs to all locally registered securities.