Established in 1971 the Bermuda Stock Exchange (BSX) is now the world's leading fully electronic offshore securities market, with a current market capitalisation (excluding mutual funds) in excess of US$300 billion.
There are over 625 securities listed on the BSX of which over 350 are offshore funds and alternative investment structures. Trading occurs daily and settlement on a rolling T+3 basis using BEST, the BSX's Central Limit Order Book trading mechanism which is tightly integrated with the Exchange's clearing, settlement and depository platforms.
The success of the BSX lies in its innovative approach to new products and markets and its ability to offer a ‘commercially sensible' regulatory environment. The Exchange specializes in listing and trading of capital market instruments such as equities, debt issues, funds (including Hedge Fund structures), derivative warrant programmes and Insurance Linked Securities, such as Catastrophe Bonds.
The BSX, recognised by the US SEC as a Designated Offshore Securities Market, is a full member of the World Federation of Exchanges (WFE) and is located in an O.E.C.D. member nation.
The BSX was granted Approved Stock Exchange status under Australia's Foreign Investment Fund (FIF) taxation rules, Designated Investment Exchange status by the UK's Financial Services Authority, Recognised Stock Exchange by the UK HM Revenue and Customs, Designated Stock Exchange status under Canada's Income Tax Act. The BSX is also a member of America's Central Securities Depository Association.
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