The Regional Governments Securities Market (RGSM) is a regional market for the trading of debt instruments of the member states of the ECCU which comprise Anguilla, Antigua and Barbuda, Commonwealth of Dominica, Grenada, Montserrat, St Kitts and Nevis, Saint Lucia, and St Vincent and the Grenadines. The market was established in November 2002 and operates on a fully electronic platform. The instruments on the RGSM take the form of Treasury-bills and bonds and have varying maturities. These securities are backed by the full faith of the governments of the issuing member states.