ECSE TRADING REPORT: Dominica raises $20 million in treasury bills

ECSE logoSummary trading report for the week ending Friday, 13 December 2013

Eastern Caribbean Securities Market On the Eastern Caribbean Securities Market this week the following securities traded:
• 1,000 Cable & Wireless St Kitts & Nevis Ltd shares traded at $4.15 per share; also, 50 Cable & Wireless St Kitts & Nevis Ltd shares traded odd lot at $4.15 per share
• 100 Republic Bank (Grenada) Ltd shares traded at $45.50 per share
• 550 St Kitts Nevis Anguilla National Bank Ltd shares traded at $2.20 per share; also, 150 St Kitts Nevis Anguilla National Bank Ltd shares traded odd lot at $2.20 per share
• 1,719 TDC shares traded at a low of $1.49 and at a high of $1.50, closing at $1.50 per share; also, 100 TDC shares traded odd lot at $1.49 per share

Regional Government Securities Market (RGSM) On the Regional Government Securities Market, the Government of the Commonwealth of Dominica’s 91-day Treasury bill auctioned on the ECSE’s primary market platform raised $20.0 million. The competitive uniform price methodology used, resulted in a discount rate of 2.499%.

The next auction on the Regional Government Securities Market will be that of the Government of Antigua and Barbuda’s 5-year bond, which will take place on 16 December 2013 using the primary market platform of the Eastern Caribbean Securities Exchange. Bidding for this auction commences at 9:00 am and ends at 12:00 pm.

More information on the securities available for sale and other issues can be obtained at the ECSE’s website at www.ecseonline.com, or by contacting a broker dealer.

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4 Comments

  1. Bob the builder
    December 17, 2013

    Treasury bills and bonds will be our survival soon as DSS money has dried up. Soon the payments to DSS will stop and no more land is available to exchange after Warner has been given to DSS.

  2. looking
    December 16, 2013

    A treasury bill is a short term debt obligation. I.E our government has offered their T-Bills (paper) for sale. But its an agreement. Its like i sell someone a bill for a thousand dollars. But their is a Bond requirement. I have to repay that person one thousand plus interest. So our government has to invest that money to ‘make money” so to speak because they have to repay more than 20 million (the principal plus the interest on that bill). You got it? Inowan?

  3. Mccarthy mMArie
    December 16, 2013

    @inyowan

    A treasury bill is a way of governments borrowing money from the public, be they locals or foreigners. Essentially the government gives buyers a document that says that on a specified date (less than a year from date of purchase, usually 3 months)the government will give the bearer of this document a specified sum of money. For example the document might say that the government will give the bearer of the document $100.00.

    The person buying this document from the government will give the government less than $100.00, say $95.00. Obviously the buyer of the the document will have made $5.00 profit or interest on the transaction. The closer the price paid for the document is to its face value the lower the rate of interest the government pays and vice-versa.

    These documents are called treasury bills because it is the treasury or whatever equivalent institution exits in the country that is responsible for issuing these bills and paying back the investors. A bond is essentially the same thing except that a bond is for a period longer than a year.The rate of interest on bonds is usually higher than on treasury bills for this reason among others.

  4. Inyowan
    December 15, 2013

    Could somebody please explain what this treasury bill is all about? cuz I’m lost.

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