The Bermuda Stock Exchange (BSX) will ring the NASDAQ market opening bell in New York’s Times Square today.

The BSX is celebrating an upgrade of its exchange technology platform to NASDAQ OMX state-of-the-art trading system, X-stream.

Minister of Economic Development Grant Gibbons and CEO of the BSX Greg Wojciechowski along with other leading Bermuda business executives and BSX clients will be at the opening.

The BSX says it has upgraded its technology platform to X-stream as part of its effort to enhance its position as the world’s leading offshore securities market and to provide advanced trading, clearing and settling capabilities for equities, debt issues, funds, hedge funds, derivative warrants and Insurance linked securities.

NASDAQ OMX’s X-stream is the most widely used marketplace management system in the world because it provides the operational efficiencies needed to rein in costs and maintain profitability as well as the robust functionality and flexible technology architecture.

Commenting on the BSX’s growth and success and the NASDAQ opening, Dr Gibbons said: “The Bermuda Stock Exchange is clearly one of the world’s leading offshore stock exchanges with superior technology, sound regulation and a track record of innovation and excellence.

“The investment in new technology will serve the BSX well as it brings the domestic capital markets to a more sophisticated level of operations while supporting international capital markets products such as insurance linked securities and other new capital markets products. We are pleased to support the BSX in their efforts and recognise its many accomplishments to date.”

Mr Wojciechowski added: “We are excited to open the NASDAQ. It’s a wonderful opportunity for us to remind the world that the BSX is an innovative and powerful partner in the global capital markets and that Bermuda, despite its relatively small physical size, has a remarkable international impact on the financial services sector.”

The BSX logo and promotional videos that highlight Bermuda’s business and tourism offerings will appear throughout the morning on the NASDAQ MarketSite. Located at 43rd and Broadway, the MarketSite high-tech electronic display wraps around the cylindrical NASDAQ building, providing up-to-the-minute financial news, market highlights, and advertisements.