In making the announcement BSX Chief Executive Officer Greg Wojciechowski noted, "The Bermuda Stock Exchange is delighted that the LSE admitted the BSX Main Board Freely Transferable market to the LSE's list of registered organisations. The link makes it possible for all freely transferable BSX listed securities to qualify for trading on the LSE's international equity market and to be eligible for quotation on the LSE's electronic quotations display system "SEAQ International".
In order to be added to the London Stock Exchange's list of registered organisations, the BSX Main Board Freely Transferable market has met criteria agreed between the Financial Services Authority and the London Stock Exchange.
At present there are three freely transferable securities listed on the BSX main Board Freely Transferable market, namely, Bank of Bermuda, Bank of Butterfield and Bermuda Commercial Bank. However it is anticipated that as Government relaxes the 60/40 exemption other companies will become eligible to be traded on the LSE's international equity market.
Mr. Wojciechowski went on to note that, "In addition to the added value for eligible listed issuers, this association with a preeminent international stock exchange, once again reinforces the BSX's commitment to meeting and exceeding international regulatory and operational standards."