The BSX was established by the Bank of Bermuda, the Bank of Butterfield, Bermuda Provident Bank and Bermuda National Bank in 1971 for the sole purpose of trading domestic securities.

Trading began on February 2 that year with 33 companies, representing 35 securities, listed on the exchange.

Thirty years later most of those original companies are still listed but some, such as Ambards and Hopping John, no longer exist.

The Royal Gazette of the following day reported "asking prices were high and bids were definitely on the low side''. But two securities did trade that day -- Bank of Bermuda at $14.50 and BELCO at $39.

Today 22 domestic companies are listed on the BSX representing 32 listed securities. Last year more than 6.7 million securities were traded with a share value of $136 million.

The BSX now has a staff of 12, 23 registered members and a fully automated trading system, BEST.

The BSX also now offers a secondary market for international Bermuda domiciled companies, such as ACE, XL, Tyco, Jardine and MRM.

It created the world's first mezzanine market for e-commerce and other hi-tech companies and is exchange of choice for many offshore mutual funds.

There are over 320 securities listed in total on the BSX and in 1999 it was approved as a full member of the International Federation of Stock Exchanges, just one of 54 exchanges to achieve this.

It is recognised by the United States SEC as a designated Offshore Securities Market.