The surge in growth of insurance-linked securities has helped position the Island’s stock exchange as a major player in the market, Bermuda Stock Exchange (BSX) CEO Greg Wojciechowski said yesterday.

Mr Wojciechowski added: “We have had a record number of listed insurance-linked securities — we’re delighted with that because it we were one of several that got involved in making sure the rest of the world understood the basis and underlying infrastructure in Bermuda to support innovative new business.”

He added: “Bermuda did re-emerge this year as a new centre of excellence for a new angle on reinsurance which we should all be very proud of.

“Bermuda really did do its part to continue to show it’s a solid, mature international financial centre which continues to provide global solutions to a global client base.”

Mr Wojciechowski said that other highlights included a new hi-tech Nasdaq trading mechanism, which had also helped boost the BSX.

Mr Wojciechowski added: “We had a major front end trading engine overhaul — we’re now running the most modern Nasdaq trading machine, which we’re doing because we want to make sure the BSX is positioned to take advantage of opportunities.

“It’s the best, most modern operational platform we can afford, given our size.”

He added that the listing of a massive $50 million Government Bond on the BSX had also sent out a strong message overseas.

Mr Wojciechowski said: “Whether they are private institutions or the Government using the domestic capital market, it’s a real signal that our domestic capital market is developing.

“We may need external capital and we will always need that, but to a certain extent, we can sell funds as well, which is an important message.”

He added: “Generally speaking, the exchange has continued to provide very important and much needed capital market support in Bermuda. The existing platform continued to provide a trading facility which meets international standards of excellence.”