Bermuda Stock Exchange Reports Record ILS Listings in 2021; Continued Growth in International Debt Listings

Highlights: 

- Insurance Linked Securities listings reach record level

- International debt listings increased in 2021

- BSX moves into new headquarters at Exchange House

- BSX begins publishing U.S. MIAX Pearl Equities data to the Pyth Network

HAMILTON, Bermuda and PRINCETON, N.J., Jan. 19, 2022 /PRNewswire/ -- Bermuda Stock Exchange (BSX) today reported 2021 results, with record insurance-linked securities (ILS) listings and continued growth in international debt listings.  BSX also completed a number of important initiatives in 2021 including joining the Pyth Network and moving its operations to a new headquarters location in the Exchange House.

Insurance Linked Securities (ILS) listings reached a record 281 issues in 2021, representing an 11.1% increase from 253 listings in 2020. Combined nominal value of 2021 listings totalled $19.8 billion, a 25.4% increase from the $15.8 billion total in 2020 with the number of ILS securities totalling 757 listings at the end of 2021, representing $50.8 billion in nominal value.

"It was a pivotal year for BSX and our team, with our core listing business ending the year at record levels despite the impact of COVID-19 on our ability to engage in traditional physical business development activity," said Greg Wojciechowski, president and chief executive officer of BSX. "BSX moved its administrative and commercial operations to a new location at Exchange House in Hamilton and implemented significant upgrades to the technology infrastructure as we continued the integration with our parent, Miami International Holdings, Inc."

International debt issues listed on BSX saw continued growth totalling 222 in 2021, a 7.3% increase from 2020. The nominal value of new international debt listings totalled $29.4 billion, a 35.7% increase from 2020.

"Steady growth in our international debt listings during the ongoing disruption caused by COVID-19 is an important validation of BSX's growing importance as a recognised venue for international debt listings in the western hemisphere," said James McKirdy, chief compliance officer of at BSX. "Issuers continued to refinance outstanding debt with larger-sized issues, supporting growth in nominal value of debt issuances."