Bermuda Stock Exchange

BSX streamlines fee structure

  • Annual fee option: the BSX is streamlining its fee structure

The Bermuda Stock Exchange has moved to make the BSX listing process more cost-efficient by introducing a comprehensive annual fee option in respect to the listing fees of international debt and insurance-linked securities products.

A statement issued by the BSX said the announcement 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 ILS listing on the BSX over the last three years.

As at December 2018, the BSX reports that it had more than 900 listed securities, including 200 international debt issuers and 302 ILS vehicles (representing 80 per cent 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 said.

The BSX, it said, offers a unique value proposition for listed issuers seeking a listing (technical or otherwise) on an internationally recognised 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 and is deemed as a “recognised stock exchange” by the United Kingdom’s HM Revenue and Customs. Other important recognitions, the BSX said, can be found on the organisation’s website at www.bsx.com.

James McKirdy, BSX listing and compliance manager, said: “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.”