The world’s largest offshore securities market to continue long-term technology partnership with Nasdaq
NEW YORK and HAMILTON, Bermuda, Nov. 01, 2017 (GLOBE NEWSWIRE) — Nasdaq Inc. (Nasdaq:NDAQ) and the Bermuda Stock Exchange (BSX) have signed a new agreement with Nasdaq continuing to deliver its trading technology via the Nasdaq Financial Framework. The platform has been instrumental in solidifying Bermuda’s status as a premier off-shore securities market for attracting international as well as domestic capital, and allowing for asset scalability and high-order capability.
“The core technology that underpins mission critical systems of an exchange speaks volumes to the seriousness and commitment of that exchange to the support and development of its domestic capital market and international clients that it serves,” said Greg Wojciechowski, President and CEO of Bermuda Stock Exchange. “The Bermuda Stock Exchange is proud to have Nasdaq technology powering its mission critical systems.”
“In collaborating with BSX over the past several years, Nasdaq has witnessed how well-functioning and high-performing the exchange has become,” said Carlos Patino, Head of Latin America and Caribbean, Market Technology, Nasdaq. “We look forward to continuing to expand our relationship over the coming years, and delivering technology that will support the growth ambitions of BSX.”
Nasdaq’s market infrastructure technologies, including trading, real-time risk, index, clearing, CSD and market surveillance systems are operated in more than 100 marketplaces, regulators, clearinghouses and central securities depositories across the Americas, Europe, Asia, Australia, Africa, the Middle East and the Caribbean.
Nasdaq (Nasdaq:NDAQ) is a leading global provider of trading, clearing, exchange technology, listing, information and public company services. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today’s global capital markets. As the creator of the world’s first electronic stock market, its technology powers more than 90 marketplaces in 50 countries, and 1 in 10 of the world’s securities transactions. Nasdaq is home to approximately 3,900 total listings with a market value of approximately $12 trillion. To learn more, visit: http://business.nasdaq.
About Bermuda Stock Exchange
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) of over $300 bn.
There are over 850 securities listed on the BSX of which over 300 are offshore funds and 211 are Insurance Linked Securities. Bermuda has emerged as a centre of excellence for the creation, support and listing of ILS structures.
Trading occurs daily with settlement on a rolling T+2 basis. NASDAQ market technology powers 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 BSX specializes in listing and trading of capital market instruments such as equities, debt issues, funds (including Hedge Fund structures), derivative warrant programmes and is rapidly becoming a leader in providing exchange services for Insurance Linked Securities, such as Catastrophe Bonds.
The BSX, recognised by the US SEC as a Designated Offshore Securities Market, is a full member and a Member of the Board of Directors 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. www.bsx.com
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