FAQ’s: Your Investor Questions Answered.  

1. What is the ECSE Tokenized Securities Market (EC‑TSM)? 

• The EC‑TSM is the Caribbean’s first regulated public market for tokenized securities. It allows investors to participate in compliant, blockchain-powered offerings including tokenized IPOs and secondary trading of digital securities listed on the Eastern Caribbean Securities Exchange (ECSE).

2. What is a tokenized security?

• A tokenized security is a traditional financial instrument (such as equity or debt) represented in digital form on a secure blockchain infrastructure. It offers the same legal and economic rights as a regular security, but with improved transparency, speed, and accessibility.
• The EC-TSM platform introduces a number of transformative capabilities for both issuers and investors, including: 
  • 24/7 operational infrastructure, with live trading available 23 hours a day, five days a week 
  • Real time Market Cap 
  • Streamlined Corporate Actions 
  • Supports Multiple Asset Classes, including, Equity, Debt, and Asset Backed Securities 
  • Accessible IPO entry points, making participation in public offerings more inclusive for a broader range of investors. 
  • The infrastructure supports transactions through fiat, CBDCs and stablecoins. 

3. How do I invest in tokenized securities on ECSE? 

•  To invest, you must open an account with an ECSE-licensed Broker Dealer. The Broker Dealer will help you: 
  • Complete Know Your Customer (KYC) verification 
  • Fund your account 
  • Subscribe to tokenized IPOs 
  • Trade on the secondary market once the securities are listed 
• Investor onboarding is fully digital and accessible online.

4. Who are the licensed Broker Dealers I can register with?

• Current approved Broker Dealer-dealers include: 
  • First Citizens Investment Services Ltd. 
  • Bank of Saint Lucia Ltd. 
• More Broker Dealers may be added to the ECSE network over time. 

5. Can international investors participate?

• Yes. International investors, institutions and individuals, including the Caribbean diaspora can participate as long as: 
  • They open an account with a licensed ECSE-approved Broker Dealer 
  • They are not from a sanctioned jurisdiction.  
• Your Broker Dealer will determine if there are any limitations to your participation in any particular offering. 

6. What are the risks of investing in tokenized securities? 

• All investments carry risk. While tokenized securities benefit from blockchain transparency and faster settlement, investor due diligence remains essential. Risks may include: 
  • Market fluctuation 
  • Business performance of the issuer 
  • Liquidity constraints 
  • Regulatory or jurisdictional considerations 
• Always read the Offering Document (Prospectus) and consult with your Broker Dealer or financial advisor before investing.

7. Are tokenized securities the same as cryptocurrencies? 

• No. Tokenized securities are regulated financial instruments, such as shares or bonds, that represent ownership or claims on a real asset or business and are issued in compliance with securities laws. They are not cryptocurrencies.  

8. How is my investment protected? 

• Tokenized securities are issued through a regulated exchange (ECSE) 
• Investor onboarding is conducted by licensed Broker Dealers 
• Assets are tracked on secure blockchain infrastructure 
• Regulatory oversight is provided by the Eastern Caribbean Securities Regulatory Commission (ECSRC)

9. How do I monitor or trade my investments after purchase?

• You can log into your Broker Dealer account to: 
  • View your holdings 
  • Monitor pricing and performance 
  • Trade securities on the secondary market 
• Your online portal provides access to your real-time portfolio and transaction history. 

10. Is there a minimum investment amount? 

• Minimum investment thresholds vary by offering. Some IPOs may have entry points as low as USD $10 depending on the issuer. These limits are outlined in the prospectus. 

11. Can I sell my tokenized securities later?  

• Yes. Once the security is listed and secondary trading is enabled, you can place a sell order through your Broker Dealer, just like with traditional securities. Liquidity will depend on market demand.

12. For Investors: How do I get started? 

1. Choose a licensed Broker Dealer from the ECSE-approved list 
2. Complete Know Your Customer (KYC) and fund your account 
3. Review available offerings 
4. Subscribe to tokenized IPOs or trade existing listings 

Click Register Your Interest to begin.

FAQ’s: Your Issuer Questions Answered.  

1. What is the minimum amount I can raise?

• There is no minimum raise requirement on the ECSE Tokenized Securities Market (EC‑TSM)

2. How do I know if my company qualifies to list on the exchange?

• Issuers must meet baseline eligibility requirements related to corporate structure, financial readiness, governance, and regulatory compliance. Please refer to the Qualification Checklist to determine your readiness before engaging a Broker Dealer. All listings are subject to regulatory approval.

3. Is this market accessible to small and medium-sized enterprises (SMEs)?

• Yes. One of the core objectives of the ECSE Tokenized Securities Market (EC‑TSM) is to provide qualified SMEs with access to regulated public capital markets. 
  
  Through streamlined digital processes, Broker Dealer support, and no preset minimum raise thresholds*, EC‑TSM makes it feasible for growth-oriented businesses to raise funds through tokenized IPOs without the high costs and complexity of traditional listings. 
  
  SMEs that meet the qualification criteria, including audited financials and proper governance, can benefit from: 
  • Increased visibility through exchange listing 
  • Access to regional and international investors 
  • Liquidity through secondary market trading 
  • Credibility and transparency supported by regulatory oversight 

• Your Broker Dealer-dealer can help assess readiness and guide you through each step of the process. 

*While there is no formal minimum raise requirement, each offering must demonstrate economic viability and sound rationale for listing. 

4. Do I need audited financial statements?

• Yes. Audited financial statements prepared in accordance with recognized international auditing standards are required. 

5. Who can act as my auditor?

• Your auditor must be a licensed and accredited audit professional such as a CPA or equivalent, recognized in your home jurisdiction. With the EC-TSM, you’re not required to use large audit firms that may not be a good fit for SMEs. 

6. What types of securities can be listed?

• The EC‑TSM supports a wide range of tokenized securities, including but not limited to: 
  • Equity securities (common or preferred shares) 
  • Debt instruments (bonds, notes, convertible debt) 
  • Revenue‑sharing or profit‑participation instruments 
  • Asset‑backed securities such as real estate, Royalties or IP.  
• All securities must comply with applicable securities laws and be approved by the exchange and regulator. 

7. Are there regulatory filings I need to be aware of? Do I need to file with the Regulator?

• Yes. You must file a Prospectus with the Eastern Caribbean Securities Regulatory Commission (ECSRC). Our platform includes a prospectus builder that can expedite your preparation to save you time and money.  
• Your Broker Dealer and legal counsel will guide you through the required filings. 

8. What are the ongoing reporting requirements after listing? 

• Most exchanges require ongoing disclosure, including: 
  • Quarterly financial statements 
  • Annual audited financial statements 
  • Report on material changes to the business  
• Additional reporting obligations may apply depending on the issuer’s structure, jurisdiction, and security type. Your Broker Dealer will assist in managing these requirements.

9. What are the legal implications if I am a company outside of the Eastern Caribbean?

• International issuers must comply with: 
  • All applicable securities regulations 
  • Listing and disclosure requirements as specified by the ECSE and the market regulator, the ECSRC. 
• Legal counsel and your Broker Dealer can guide you regarding any special requirements for your organization.

10. Can investors participate from anywhere in the world?

• Our market supports global investors who may participate by opening an account with one of our licensed Broker Dealers. However, issuers may only market their offering in jurisdictions where appropriate regulatory filings have been made or relevant exemptions apply. Broker Dealers will support compliant investor outreach. 

11. Do I need to travel as part of the offering? 

• Travel is not mandatory, but issuers are encouraged to participate in: 
  • Investor roadshows (in‑person or virtual) 
  • Broker Dealer led presentations and briefings 
• You should be prepared with professional marketing materials and management availability to support investor engagement. 

12. What types of deals have been completed before?

• Our licensed Broker Dealers have been executing public and private capital raises for decades across multiple asset classes and regions. 
• Tokenization enhances efficiency, transparency, and access but successful offerings are driven by strong fundamentals, credible management, and investor demand.

 13. What role does the exchange play versus the Broker Dealer? 

• The exchange provides the regulated market infrastructure and listing venue. 
• The Broker Dealer manages issuer onboarding, regulatory coordination, investor distribution, and marketing support. 
• Issuers must work through a licensed Broker Dealer to access the EC‑TSM. 

14. How long does the listing and offering process take?

• Timelines vary depending on readiness, regulatory review, and offering complexity. Well‑prepared issuers can typically expect the process to take several months from initial onboarding to launch.

15. After a successful raise and my securities begin trading on the secondary market, is there a minimum market cap the company must maintain to stay listed? 

• There is no specific minimum percentage of the capital raise that must be maintained; however, the issuer must meet all applicable listing and regulatory requirements. 

16. For Issuers: Where do I start? 

1. Review the Qualification Checklist 
2. Contact a licensed ECSE-approved Broker Dealer 
3. Begin issuer onboarding through the EC‑TSM platform and use the Prospectus Builder to prepare for your offering

Click Register Your Interest to begin.

ECSE-PBC Governance CPD Webinar Series

Enhancing Board Governance through Strategic Stakeholder Engagement

Summary/Purpose: In today’s complex and fast-changing environment, effective stakeholder engagement is no longer optional, it’s essential for robust board governance and sustainable value creation. This interactive workshop is designed to equip board members, executives, and governance professionals with the knowledge and tools to navigate the evolving landscape of stakeholder expectations and influence.

Content: Participants will explore the critical role of stakeholder engagement in value creation, and how purpose-led governance can drive long-term success that can benefit a diverse range of stakeholders. Through dynamic discussions, real-world case studies, and practical exercises, the session will delve into: 

• The strategic connection between organizational purpose and value creation 

• The dual dimensions of enterprise and social value 

• The tangible benefits of proactive and meaningful stakeholder engagement 

• Broadening conventional definitions of stakeholders to reflect today’s realities 

• Stakeholder mapping techniques to identify influence, interests, relationships and materiality 

• Innovative and inclusive strategies for stakeholder engagement 

• Best practices in tracking, measuring, and reporting stakeholder value and impact 

• Understanding how stakeholders influence one another and the organization 

• The role of board composition in shaping stakeholder relationships and trust 
• Emerging trends and expectations in stakeholder management and accountability 

Benefits:  By attending this virtual session, attendees will learn how stakeholder engagement supports stronger governance and risk oversight and better understand how aligning with stakeholder expectations builds trust and strengthens performance, leading to increased value creation. Through real world examples participants will receive practical tools to assess and strengthen stakeholder relationships, a framework for aligning governance with stakeholder expectations and gain insights into how effective stakeholder engagement enhances board performance and organizational resilience. 

This workshop encourages participation, reflection, and collaboration helping governance leaders move beyond compliance to embrace a more strategic, inclusive, and value-driven approach to stakeholder engagement. 

Who should attend: Board chairs, company directors, company secretaries, chief executives and any executive working with or supporting the board. 

Registration: The webinar will be delivered Wednesday 17 September, from 9:00 am to 10:30 am (UTC-4).

Fees: A Registration Fee of EC$295 (US$110) per participant is payable to the Eastern Caribbean Securities Exchange Ltd by Credit Card, Wire Transfer or Electronic Funds Transfer (EFT) by 12th September 2025.
Discounted Rate for ECSE Affiliates and CGIC Members – EC$270 (US$100)
(CGIC members must include their membership number to benefit from this discount)

To register, click here:

Your Facilitator:

Michelle H. Snow, ICD.D is an executive leader, governance professional, public engagement expert and consultant with extensive experience in board governance as both a director and senior advisor to numerous boards in the voluntary, non-profit and public sectors.  

She is the founder and CEO of Elevate Governance Consulting Inc. offering customized governance advisory services and training to companies, organizations and their boards of directors. Her professional career has spanned over three decades of public service with Memorial University and the Government of Newfoundland and Labrador in senior leadership positions. From 2020 to 2023 Michelle was a senior advisor to Memorial University as the Executive Director, University Governance Secretariat and Interim Secretary of Senate providing strategic advice to the President and the Chair of the Board of Regents on matters of governance.  

A seasoned governance professional and public engagement practitioner, Michelle holds a Bachelor of Arts and certificates in Public Administration and Newfoundland Studies from Memorial University of Newfoundland and a Masters Certificate in Project Management from York University. In 2023 she completed the Directors Education Program from the Rotman School of Management earning the coveted Institute of Corporate Directors ICD.D designation. She is a skilled facilitator with training through the International Association of Public Participation (IAP2 Canada) where she served as Treasurer for the IAP2 Canada Board of Directors from 2018-2024.  

Michelle is an alumna of the 2015 Governor General’s Canadian Leadership Conference and was the Newfoundland and Labrador Tour Chair for the Duke of Edinburgh’s Commonwealth Study Conference 2023 Newfoundland and Labrador Study Tour.  

Welcome to the
ECSE CPD Video Portal

Available Recordings

FAQ’s: Your Questions Answered.  

1. What is a Tokenized Security?  

• A tokenized security is a digital representation of a traditional financial asset, such as stocks or bonds, on a blockchain. This allows for easier transfer, increased liquidity, and fractional ownership while maintaining regulatory compliance similar to traditional securities. 

2. Are Tokenized Securities Regulated? 

• Yes, EC tokenized securities are subject to financial regulations similar to traditional securities. Issuers must comply with securities laws and regulations in the jurisdictions where they operate, and investors have similar protections as they would in traditional markets. The Eastern Caribbean Securities Regulator Commission is the Regulator for the EC-TSM. It operates under the Securities Act enacted in all eight ECCU member countries, namely: Anguilla; Antigua and Barbuda; Dominica; Grenada; Montserrat; Saint Lucia; St. Kitts and Nevis and St. Vincent and the Grenadines. 

3. How Do I Invest? 

• To invest in tokenized securities on the EC-TSM, you need to contact one of the licensed, ECSE member Broker-dealers to set up your account.  The Broker-Dealer will review and approve your application, provide the necessary onboarding so that you can access your digital wallet online and place your buy or sell orders directly.

4. What Are the Risks Involved? 

• Risks may include market volatility, cybersecurity threats, and liquidity challenges. As with any investment, it’s essential to speak with a broker dealer, conduct thorough research and consider your risk tolerance before investing. 

5. Can I Sell My Tokenized Securities Anytime? 

• While tokenized securities can be traded on secondary markets, liquidity may vary depending on the asset and market conditions. Some tokenized securities might have lock-up periods or restrictions on when they can be sold. 

6. What is the Difference Between Tokenized Securities and Cryptocurrencies? 

• Tokenized securities represent ownership in real-world assets like stocks or real estate, while cryptocurrencies are digital assets that may not be backed by any physical asset. Tokenized securities are regulated and offer legal rights, whereas many cryptocurrencies do not. 

7. How is My Investment Secured? 

• Investments in tokenized securities are secured using blockchain technology, which provides a transparent and tamper-proof record of transactions. Additionally, regulatory oversight and smart contracts help ensure that investor rights are protected. 

8. What Happens If the Underlying Asset of a Tokenized Security Loses Value? 

• If the value of the underlying asset decreases, the value of the tokenized security will likely decrease as well. Investors in tokenized securities are subject to the same market risks as those holding traditional securities. 

9. Do I Need a Digital Wallet? 

• Yes, you typically need a digital wallet to store, send, and receive your tokenized securities. The wallet stores the private keys required to access and manage your tokens on the blockchain. 

10. How Do Dividends or Earnings Work on the EC-TSM? 

• Dividends or earnings from tokenized securities are usually distributed automatically through smart contracts on the blockchain. These payments are made in accordance with the terms set out by the issuer of the tokens. 

11. Can Tokenized Securities Be Used as Collateral? 

• Yes, tokenized securities can potentially be used as collateral for loans or other financial agreements, depending on the terms set by the lender and the platform. This can provide additional liquidity and financing options for investors. 

BENEFITS FOR INVESTORS  

• 24/7 Trading  

• Increased Liquidity 

• Lower Fees 

• Global Access 

• Enhanced Security  

• Faster Settlements  

• Automated Compliance 

• Portfolio Diversification 

Getting Started  

Step 1: Create an Account 

Contact a Licensed ECSE-Member Broker Dealer to sign up for an account by providing personal information, verifying your identity (KYC), and completing any required compliance checks. 

Step 2: Fund Your Account 

Deposit funds into your account. After depositing funds, your account balance will reflect the available amount for trading.

​​​Step 3: Start Trading Tokenized Securities 

Browse the available tokenized securities on the platform. Research the assets you’re interested in, such as tokenized stocks or bonds. Place buy or sell orders based on your investment strategy. Once your order is matched with a seller or buyer, the transaction will be processed, and your digital wallet will be updated with the tokenized securities you purchased. 

Securities Listed/Available on the EC-TSM:  

Learn more about these bonds, companies/IPO’s