(Bermuda) Ltd. to take over the trading and membership duties involved in its equity in the Bermuda Stock Exchange.

Bank executive vice president, treasury, Malcolm Brown, said: "It will bring us in line with the other trading members on the Bermuda Stock Exchange, who have their broker dealer business activities established in a separate subsidiary company, rather than having it dealt with directly in the bank's name.

"Both Commercial Bank and the Bank of Bermuda did that last year and we are just falling in line with that practice.'' A recently published incorporation notice said the company would acquire membership and an equity interest, or an option to acquire an equity interest, in the BSX.

The company would also act as and provide the services of brokers, dealers, agents and underwriters as well as providing investment advice, consultancy and management services, administration and financing.

"The only change,'' said Mr. Brown, "is that rather than having trades executed on the Exchange in the name of the bank as the trading member, it now will be in the name of Butterfield Securities (Bermuda) Ltd.''