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BSX Introduces One-Time Fee For Long Term International Debt And ILS Issues

Date 11/02/2019

The Bermuda Stock Exchange (BSX) has announced the introduction of a Comprehensive Annual Fee Option in respect to the Listing Fees of International Debt and Insurance Linked Securities products. This comes in direct response to market demand and is in keeping with the steady acceleration in the number of new international debt listings (high yield notes/intercompany loan note transactions) and insurance linked securities (ILS) listing on the BSX over the last three years.

As at Dec 2018, the Exchange had over 900 listed securities, including 200 international debt issuers and 302 ILS vehicles (representing 80% of the global ILS issuances). The remaining 400 issuers comprise a mix of equities, investment fund vehicles and structured products, such as equity derivative warrants.

The BSX offers a unique value proposition for Listed Issuers seeking a listing (technical or otherwise) on an internationally recognized and fully operational stock exchange.  The BSX is the only offshore securities exchange with a seat on the Board of Directors of the World Federation of Exchanges (WFE) and is deemed as a Recognised Stock Exchange by the UK HMRC in addition to numerous other important recognitions that can be found on our website at www.bsx.com.

In making the announcement, BSX Listing and Compliance Manager James McKirdy noted; “As the Bermuda Stock Exchange continues to gain traction in the international debt arena it is important that we continue to evaluate and respond to market demand. The introduction of the Comprehensive Annual Fee Option for international debt and insurance linked securities further streamlines the BSX listing process, making it more cost efficient, by reducing the administrative burden of processing annual listing fees for the duration of a long term or multi tranche listed instrument and reducing the total sum paid.