Some interest has already been expressed by a U.S. based company in using the Bahamas International Securities Exchange (BISX) to raise funds from international investors as a prestigious designation simplifies the process and creates new opportunities.

The Designated Offshore Securities Market (DOSM) status was granted from the U.S.'s Securities Exchange Commission (SEC) - "perhaps the most influential securities regulator in the world," BISX's CEO Keith Davies told Guardian Business yesterday.

The culmination of a three-year feat, the DOSM status means, in a nutshell, U.S. corporations can come to BISX to list securities it wants to market to non-U.S. persons.

"I was talking only recently, prior to getting the designation, with a U.S. technology firm who was very interested in seeking to raise funds outside of the jurisdiction of the U.S.," Davies revealed to Guardian Business.

"I can now give them a call back and tell them, come see what we can do."

Davies did not disclose any further details about that firm.  He noted that it was very familiar with The Bahamas as a jurisdiction, though, and thought it would be able to access the international candidates it had targeted to raise funds through this jurisdiction.

If a U.S. based company, such as Google, wanted to attract capital from non-U.S. persons, the SEC is saying BISX is a suitable exchange to list on.  It makes the process for the U.S. entity considerably easier than prior to the DOSM, bringing reduced costs and reduced time-to-market, Davies said.

According to Davies, it's up to the local stakeholders now to be creative and find ways to incentivize companies to use this jurisdiction for their financing needs.

"Now that we have attained this designation as a DOSM, we still have much more work to do to take full advantage of the access and benefits this affords us to investors from the larger United States market," Davies said in a BISX release.

The fact that BISX, a relatively young exchange, now has the DOSM status that larger and older exchanges enjoy points to recognition of a sound regulatory environment and shows the competence and effectiveness of the jurisdiction's securities regulatory environment, Davies said.  BISX Chairman Ian Fair also highlighted the international prestige that comes with the designation.

"Recognition from a well respected international regulatory agency such as the US SEC sends a strong message to the international community that BISX is an organization that maintains rules and operating procedures that are up to the standards of the international community," Fair said in a BISX release.

Spearheading the three-year effort to secure the DOSM designation was BISX's chief listing officer Holland Grant.  Davies noted that no 'New York' lawyers were hired to manage the process, but that the work was done in-house by Grant, with guidance from himself.

The DOSM designation falls under the Rule 902 (b) of Regulation S of the U.S.'s Securities Act of 1933.

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