Increasing its number of international issuers and listing companies allied to record domestic trading volume were key factors contributing to the success of the Bermuda Stock Exchange last year.

Designation as a Recognised Stock Exchange by the UK's HM Revenue and Customs also proved to be a big boost for Bermuda's domestic stock market.

In addition, the trading and settlement technology of the Exchange was upgraded to the latest version of the OfficeMax trading platform, keeping up to date with the cutting edge technology.

The BSX/RG Composite Index ended the year at 4,969.92 up slightly from last year's close. Domestic trading volumes increased from 3.9 million shares to 5.3 million with a corresponding value of over $165 million, the second highest value turnover level in the Exchange's history.

The total market capitalisation of the BSX as at December 31, 2006 (excluding fund listings) stood at over $350 billion of which approximately $2.7 billion represented the domestic market.

As at December 31, 2007, 543 issuers were listed on the BSX. Included in the new listings in 2007 were the Bermuda based insurers Flagstone Reinsurance Holdings and Lancashire Holdings. The Exchange also listed 110 international derivative warrants listed by divisions of CALYON and Deutsche Bank.

There were also 20 new collective investment vehicles listed and 10 subsequent issues processed during the year.

In making the year-end announcement, BSX president and CEO Greg Wojciechowski, said: "2007 has been a very exciting year for the BSX culminating in a strong finish in respect of the number of new listings on the Exchange and the very important UK designation.

"The BSX team, through an unwavering commitment to the development of this Exchange and that of the domestic capital market remained focused, provided world class client support and were able to deliver very impressive results for a small organisation.

"I take this time to recognise their efforts and those of many others who through their commitment to their professional responsibilities have created an environment and infrastructure in Bermuda for domestic and international business to flourish.

"That includes the Ministry of Finance, the Bermuda Monetary Authority and the brokerage and financial services community.

Mr. Wojciechowski went on to point out the significance of the BSX both at home and abroad.

"The BSX is a very well-respected international brand in the stock exchange industry and this without question is critically important for the country as it provides yet another illustration of Bermuda's commitment to providing world class support to its key markets and clients.

"That said, the BSX remains entirely committed to the continued development of the domestic capital market and supporting the creation and trading of exciting new investment opportunities for Bermudians here at home.

"In this regard, we shall continue to work with Bermuda pension providers to support their efforts in allowing pensioners to request that a small portion of their pension monies be allocated to the securities of well run and regulated Bermuda entities and will continue our dialogues with the Government and corporate Bermuda to encourage them to look to Bermuda's public market as a source of funding for their financing needs."

And he is looking forward to another year's successful trading.

"The BSX team optimistically enters 2008 with a high level of energy that will translate into acceleration in the commercial momentum the Exchange has seen in 2006/2007, Bermuda and the BSX have many strengths which our closest competitors don't including our geographic strategic position," said Mr. Wojciechowski.

"Bermuda is clearly the gateway between the European and North American capital markets and the BSX will leverage this uniquely positioned opportunity to continue to drive our business and results."