Barrington Investments Limited and Gibbons Brokerage Services Limited have been approved as brokers and Forum Securities Services Limited has been approved as a broker/dealer of the Exchange. All applications were approved by the Executive Management Committee of the BSX with effect from April 8, 1998.
In addition, Harbour Financial Services Limited, a wholly-owned subsidiary of M.L.H. Quin & Co. Ltd., has been approved as a Listing Sponsor. M.L.H. Quin is the first Bermuda law firm to form a company to join the Exchange as a Listing Sponsor and is the second Listing Sponsor overall.
The addition of all four companies to the BSX underlines the strength and appeal of the Exchange as an offshore securities market. In the past 12 months, the BSX has grown significantly. A total of 183 securities are now listed on the Exchange, including 109 funds.
The three new Trading Members will join the existing nine members - three bank members: Bermuda International Securities Limited, Butterfield Securities Limited and BCB Securities Limited; and six non-bank members: Nomura Securities, Matheson Investments, MRM Securities, First Bermuda Securities, Lines Overseas Management Limited, Tremont Capital Ltd.
Barrington Investments and Gibbons Brokerage Services are both local brokers while Forum Securities Services is an exempted company providing administration, accounting and related services to offshore funds.
"The BSX is proud to have all four companies come on board," said BSX CEO Mr. William Woods. "This significantly increases our membership base which in turn adds to our credibility as a reputable offshore exchange. We anticipate an increase in new listings and trading volumes as a direct result of these companies joining us."
The three new Trading Members have full sponsorship and trading privileges on The BSX. As a Listing Sponsor, Harbour Financial is able to sponsor applications for new listings of mutual funds, Eurobonds, depository receipts, and secondary listings. Listing Sponsors cannot sponsor primary listings and do not have trading privileges on The BSX.
For additional information on The BSX, please call Robin H. McPhee, 441-292-7212 or e-mail info@bsx.com, or visit The BSX Web site at www.bsx.com.