Economic Development Minister Grant Gibbons was joined by Bermuda Stock Exchange CEO Greg Wojciechowski to ring the opening bell yesterday for the NASDAQ stock exchange.

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

The BSX says this strengthens its dedication to the development of Bermuda's domestic market, fuelling capital to the country's small and medium businesses as well as BSX's leadership position in insurance related trading activity.

"The Bermuda Stock Exchange has always been focused on investing in technology that ensures that our trading platform is among the most advanced in the world and that further extends our leadership over other competing exchanges," said Greg Wojciechowski, President and CEO of Bermuda Stock Exchange. "By deploying the industry's leading trading engine, we are making clear to the domestic and foreign markets that we are dedicated to operating a powerful, open marketplace."

"It is an honour to be powering Bermuda's premier marketplace with our trading technology," said Lars Ottersgard. "X-stream's core functionality will give BSX a lot of different capabilities to move into different product areas and have high-order capability. Partnering with BSX as it pursues robust domestic and international growth initiatives widens its leadership position in the offshore business."