The move comes as a direct result of the Exchange's continuing efforts to further strengthen its competitive position in the offshore securities market.
Over the past several years the BSX has been successful in attracting a number of secondary listings of large international companies in Bermuda, such as ACE, XL Capital and Tyco International and the Jardine Matheson Group. As a result the number of listed issuers has grown and the Exchange's Market Cap has risen significantly year-on-year.
Originally the BSX's Subsequent Issue Fees were based on a sliding scale with a maximum fee of $20,000. Now there is a flat fee structure; $2,500 where the new securities issued have a market cap which does not exceed $1billion and $5,000 for those issues in excess of $1 billion
BSX CEO, William Woods explains, "In an effort to satisfy the needs of those existing issuers and to attract new companies, the BSX has introduced a new nominal fee structure for subsequent listings.
"The fee reduction is particularly significant for companies whose growth strategy includes the regular acquisition of new companies through share issues and we hope it will be seen as another incentive to attract Bermuda domiciled companies to have a secondary listing on their home exchange."