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BERMUDA | RSS PODCAST

BSX also has the power to keep trading

The Bermuda Stock Exchange on Friday said two securities traded but could not say exactly how the Index had changed during the day or week because of ?spotty communications? after the Island-wide power failure that hit the Island on Thursday and left the BSX?s administrative office without power through Friday.

BSX chief executive Greg Wojciechowski said despite its Washington Mall office being in the dark, all BSX systems were housed in a secure location that allowed operations without interruption. The BSX closed on Thursday but re-opened for trading on Friday.

?We are all working from home because communications were spotty, but we never went offline.? Mr. Wojciechowski said the blackout, while unfortunate for Bermuda, tested the strength of the BSX?s emergency measures.

?We are delighted in a way as this was a serious test [of our systems.This is why we built redundancy into the system.?

Businesses typically create technology infrastructures that allow for operations to continue on a second, or redundant, system if the primary network fails.

Investors of two of the Island?s financial services firms ? Buttefield Bank and LOM (Holdings) Ltd. ? took up the opportunity to trade shares with the BSX?s Friday reopening. Butterfield shareholders bought and sold 1,514 shares while pushing down the share price 20 cents to $41 a share at the close of trading. And LOM saw 13,200 shares change hands while the price was unchanged at $3 a share.