Log In

Reset Password

US company acquires 100% ownership of BSX

First Prev 1 2 Next Last
Total acquisition: Thomas Gallagher, chairman of MIH and the BSX (File photograph)

Miami International Holdings has acquired 100 per cent ownership of the Bermuda Stock Exchange.

Grwoth prospects: Greg Wojciechowski, CEO of the BSX (File photograph)

The American company has held a majority stake in the local exchange since November 2019.

The BSX will continue its operations as a wholly owned subsidiary of MIH.

Thomas Gallagher, chairman and chief executive officer of MIH and chairman of the BSX, said: “We have long held that the Bermuda Government's commitment to fintech regulation and the country's established re/insurance market make the BSX and Bermuda key components of MIH's global ambitions.

“We are thrilled to complete this acquisition and have the BSX as a wholly owned subsidiary. BSX CEO Greg Wojciechowski and his team have done a tremendous job of helping to expand Bermuda's domestic capital market and positioning the BSX for future growth.

“We look forward to MIH and the BSX jointly pursuing various initiatives, especially in the digital asset and re/insurance sectors.”

Mr Wojciechowski said: “The BSX team is delighted to be joining MIH and to be able to take full advantage of the support, resources and infrastructure of MIH to bring innovative products and services to market.

“Working alongside the MIH team during the past year has proven highly beneficial for both parties, and MIH's decision to now acquire 100 per cent ownership of the BSX speaks to the growth opportunities that MIH sees in our exchange. The BSX is excited to add to the company's bottom line and continued success.”

Mr Gallagher added: “MIH understands the importance of the BSX to Bermuda. To this end, MIH remains committed to maintaining the BSX's heritage and existing operations, and we will continue to support Mr Wojciechowski in his endeavours as a member of the board of directors of the World Federation of Stock Exchanges, of which the BSX is a full member."

The BSX is a fully electronic offshore securities market regulated by the Bermuda Monetary Authority. It specialises in the listing and trading of capital market instruments such as equities, debt issues, funds, hedge funds, derivative warrants and insurance-linked securities.

The BSX is also recognised as a Designated Offshore Securities Market by the US Securities and Exchange Commission and a Recognised Stock Exchange by UK HM Revenue and Customs.

The BSX has a website at www.bsx.com

You must be Registered or to post comment or to vote.

Published December 18, 2020 at 6:14 pm (Updated December 18, 2020 at 7:04 pm)

US company acquires 100% ownership of BSX

What you
Need to
1. For a smooth experience with our commenting system we recommend that you use Internet Explorer 10 or higher, Firefox or Chrome Browsers. Additionally please clear both your browser's cache and cookies - How do I clear my cache and cookies?
2. Please respect the use of this community forum and its users.
3. Any poster that insults, threatens or verbally abuses another member, uses defamatory language, or deliberately disrupts discussions will be banned.
4. Users who violate the Terms of Service or any commenting rules will be banned.
5. Please stay on topic. "Trolling" to incite emotional responses and disrupt conversations will be deleted.
6. To understand further what is and isn't allowed and the actions we may take, please read our Terms of Service
7. To report breaches of the Terms of Service use the flag icon