The BSX experienced steady growth in its after hours cross" market in 2000 and by year's end the Exchange had processed more than 5.6 billion shares worth US$230 billion through its fully electronic trading system.
Since receiving "Designated Offshore Securities Market" status from the SEC in 1996, the BSX crossing market has grown steadily and last year's volumes took the market to record heights.
Similarly, domestic trading volumes also set new records in 2000, with 6.7 million shares with a share value of US$136 billion changing hands.
The Bermuda Stock Exchange's fully electronic trading market opens one and a half hours before New York and remains open an hour after the US East Coast markets close, making it a very attractive venue for after hour cross trading. The BSX's ability to support the crossing and printing of institutional orders through its state of the art electronic trading platform has attracted significant attention from key players in the global brokerage industry.
BSX Chief Operating Officer Greg Wojciechowski explains further "The BSX is committed to providing a well regulated trading platform for large or block transactions which require execution on a recognized stock exchange. The BSX's crossing facility supports not only the printing of US equity transactions but also those transactions from other markets.
Additionally, the BSX's ability to immediately disseminate the details of transactions through its global information distribution partners Bloomberg (BSX
Mr. Wojciechowski went to say, "The BSX is naturally delighted to have been universally recognized as a leading market for cross trading. We feel that this product will be very important going forward as the US Equity markets continue to reshape themselves. The BSX is a well established, internationally recognized, well regulated securities market located in an offshore environment and as such is an ideal venue for cross trading market."