BSX achieves its highest-ever number of listings.

The Bermuda Stock Exchange (BSX) reported a significant surge in activity throughout 2023, according to The Royal Gazette. Greg Wojciechowski, President and CEO of BSX, highlighted the strategic initiatives undertaken during the year, including substantial investments in technology and staffing.

Wojciechowski emphasized the success of the renewed focus on business development outreach, which resulted in a record number of listings on BSX. Additionally, three new listing sponsors were onboarded to enhance collaboration opportunities with local and global law firms, further expanding international listing services.

By the end of 2023, total listings on BSX reached 1,407, representing a 5.2% increase from the previous year. Notably, 261 new listings were added, marking 2023 as the third-highest year for new listings on record.

Key highlights from BSX’s performance in 2023 include significant growth in the international debt market, with 42 new listings and a notable increase of 19 in collateralized loan obligations. BSX maintained its leading position in Insurance-Linked Securities (ILS) listings, adding 195 new ILS securities, totaling a record 849 and accounting for 91% of global ILS listings.

BSX also witnessed growth in international debt listings, reaching 269 securities by year-end compared to 252 in 2022, driven by the expansion of Collateralized Loan Obligations (CLO) listings. Additionally, BSX introduced its first note program focusing on sustainable activities.

Furthermore, BSX supported Bermuda’s domestic capital market, observing increased trading volume with 2.29 million shares traded valued at $20.43 million. The Royal Gazette/BSX Index closed at 2,370.71, reflecting a 2.2% increase from 2022, with equity market capitalization totaling $191.7 billion by year-end.

BSX’s Bermuda Securities Depository served as custodian for 37% of total shares issued by domestic equity securities listed on the BSX, up from 35% in 2022. The overall number of ILS-listed securities grew by almost 10% to 849 by year-end, contributing to a record number of listed securities of 1,407.

Additionally, BSX hosted the World Federation of Exchanges 62nd General Assembly and Annual General Meeting in Bermuda, attracting 230 participants from 45 countries. The addition of three new listing sponsors brought the total to 18, facilitating broader access to international markets and new product offerings for sponsors.

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