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The Bermuda Stock Exchange (BSX)

Name The Bermuda Stock Exchange (BSX)
Country Bermuda
Number of listed companies 1154
Domestic market capitalization 2870 million US$
SSE Partner Exchange Yes
Has annual sustainability report No

ESG reporting required as a listing rule No

Has written guidance on ESG reporting No

  • To be released

Offers ESG related training No

Market covered by sustainability-related index No

Has sustainability bond listing segment No

Has SME listing platform No

Additional information
Organizational model of stock exchange
  • Unlisted/For-Profit – Private Company

Regulatory bodies

Regulatory model
  • Strong exchange SRO

About the stock exchange
Established in 1971, the Bermuda Stock Exchange (BSX) is today the world’s preeminent fully-electronic, offshore securities exchange, offering a variety of domestic and international listing options.

A full member of the World Federation of Exchanges, and affiliate member of the International Organization of Securities Commissions the BSX is globally recognised and renowned and respected for its commercially sensible listing requirements.

With over 700 listings to date the Exchange is a leading market for the listing of investment funds, debt and insurance related securities, as well as those of small to medium enterprise companies.

The Exchange’s significant growth over the past several years is due in large part to its innovative and commercial approach. For instance, the BSX is able to offer listed issuers speed to market, with many listings taking as little as two weeks to complete.

Another example of the BSX’s pioneering approach is the Mezzanine Listing facility, which provides development stage companies with a unique opportunity to list, and subsequently raise capital on an internationally recognized exchange at a much earlier stage than a traditional IPO.

Furthermore, the BSX’s electronic trading, settlement and depository platform, licensed by NASDAQ OMX, is specifically designed to support the secondary market trading and settlement of sophisticated listed securities. The platform, based on a central limit order book model, is fully automated and allows for the trading of both equity and fixed income securities in a modern and secure environment.

All listed securities are supported through Bloomberg (BSX <GO>) and the BSX web site www.bsx.com carries details on all listed securities, providing important information supporting transparency and disclosure, with a view to encouraging liquidity and inspiring investor confidence.

When considering the Exchange, location should also not be overlooked. Bermuda, positioned one hour ahead of New York and four hours behind London, has earned a reputation as a world-class centre for commerce, with both a sound regulatory and legal environment (English Common Law), stable government and unsurpassed access to intellectual capital.

Working closely with Government, the Bermuda Monetary Authority (BMA) and the newly formed Bermuda Business Development Agency (BBDA) the BSX ensures that Bermuda’s stellar reputation is constantly enhanced through collaboration, innovation and growth.

Stock Exchange Database Criteria

The SSE maintains a database of sustainability activities for all stock exchanges that are either members of the SSE initiative and/or members of the World Federation of Exchanges. This database is the most comprehensive database of stock exchanges worldwide and contains data on all main stock exchanges. The information in this database is intended to inform investors and other stakeholders on the work stock exchanges are undertaking to advance sustainability in their respective markets.

The information provided in this database is based on publicly available information prepared by the SSE Secretariat with input from stock exchanges in most instances. Sources and explanatory notes on sustainability information have been included in individual Stock Exchange Fact Sheets. The criteria for each category can be found below.

While every effort is made to keep the information in this database up to date, please be aware that certain factors change frequently and therefore may not be exact, such as the number of listed companies or market cap.

Field

Criteria Considered

Conducts business in Country or Market in which the stock exchange operates
Number of listed companies (Date updated) Updated either by the stock exchange directly or using WFE data
Domestic market capitalization  Updated either by the stock exchange directly or using WFE data
Has signed the SSE Commitment Letter? To be considered an SSE Partner Exchange, the CEO or Chairperson of the exchange must sign an SSE commitment letter. Contact the SSE for more information if your exchange would like to join.
Has annual sustainability report? For a yes, stock exchanges must report, either in a stand alone report or integrated into their financial report, on their environmental and social impact and corporate governance.
ESG reporting required as a listing rule? For a yes, all three factors have been considered (environmental, social and governance) within the listing rules for some or all listed companies. This requirement may come from the regulatory authority or the exchange, depending on the market.
Offers written guidance on ESG reporting? For a yes, all three factors have been considered (environmental, social and governance). The SSE has developed a model guidance that all exchanges can use to develop their own guidance to issuers. For more details, click here.
Offers ESG related training? For a yes, training must have taken place in the previous 12 months, and must be interactive. The topic of the training must be on some area of sustainability.
Market covered by sustainability-related index? Sustainability-related indices may include environmental or social  indices, or ESG indices. This could include specific themes, such as low carbon indices, or general sustainability indices. The index must be specific to the market the exchange operates in (a region or world index is not included).
Has sustainability bond listing segment? For a yes, the exchange has developed the rules and regulations allowing for sustainability bonds to be listed, and provides a separate segment for listing making the bonds easy to find and identify.
Has an SME listing platform? For a yes, the exchange offers a listing platform specifically for Small-and-Medium sized enterprises.
Additional Information Additional Information captures exchanges’: sustainability section of websites,  sustainability products not captured under indices; information on future sustainability commitments and other information on the exchange
Organizational model of stock exchange Whether the exchange is listed or not, and when it was demutualized
Regulatory bodies The regulatory authority that sets listing requirements and capital market regulation for the exchange's market
Regulatory model

The extent to which exchanges have regulatory authority in their market. This may include: 

  • Limited exchange SRO
  • Strong exchange SRO
  • Independent member SRO
  • Government (Statutory)
  • Non-SRO
About the stock exchange The location of the headquarters of the exchange, and any additional details about the stock exchange.