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Bermuda Stock Exchange Reports Record ILS Listings in 2021; Continued growth in international debt securities listings

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Strong points:

– Insurance Linked Securities quotes hit record high

– International debt ratings increased in 2021

– BSX moves into new headquarters at Exchange House

– BSX begins publishing US MIAX Pearl Equities data on the Pyth network

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

Insurance-linked securities (ILS) listings reached a record 281 issues in 2021, representing an increase of 11.1% from 253 listings in 2020. The combined face value of 2021 listings totaled $19.8 billion, an increase of 25.4% over $15.8 billion total in 2020 with a number of ILS securities totaling 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 highs despite the impact of COVID-19 on our ability to engage in traditional physical business development activity,” said declared Greg Wojciechowski, President and CEO of BSX. “BSX has moved its administrative and business operations to a new location at Exchange House in hamilton and implemented significant technology infrastructure upgrades while continuing integration with our parent company, Miami International Holdings, Inc.”

BSX-listed international debt issuances saw continued growth totaling 222 in 2021, an increase of 7.3% from 2020. The face value of new international debt listings totaled $29.4 billion, an increase of 35.7% compared to 2020.

“The steady growth of our international debt listings during the ongoing disruption caused by COVID-19 is an important validation of BSX’s growing importance as a recognized venue for international debt listings in the hemisphere. western,” said James McCirdy, Chief Compliance Officer at BSX. “Issuers continued to refinance outstanding debt with larger issues, supporting growth in the face value of debt issues.”

BSX listed 24 new collective investment vehicles, 10 derivative warrants and 1 new share in 2021. At the end of 2021, there was a record 1,294 securities listed on BSX, an increase of 14, 8% from 1,127 at the end of 2020. The RG/BSX Index rose 27.7% in 2021, closing at 2,595.09. The domestic trading volume totaled 3.0 million shares in 2021, while the value of shares traded totaled $23.4 million. The market capitalization of companies listed on the BSX totaled $334 billion end of 2021.

“Bermuda Securities Depository (BSD), the national central counterparty (CCP) and central securities depository (CSD), continued to ensure the orderly settlement of transactions and the processing of all domestic securities transactions despite the challenges encountered by the COVID-19 pandemic”, mentioned Neville Caines, COO of BSX. “At the end of 2021, BSD held 52% of all domestic listed securities on deposit, an increase of 6% from 2020.”

In June, BSX joined the Pyth Network, a decentralized financial market data distribution platform deployed on an Oracle network designed to deliver high-fidelity financial market data to the blockchain industry using of a blockchain protocol on the Solana network. BSX subscribed to US stock market data from MIAX Pearl Equities and began posting data to the network in September 2021.

“The BSX celebrated its 50and anniversary in 2021 and we believe we have laid the foundation for our next 50 years of innovation and growth. What has become clear over the past year is that the change in how we work, where we work and disruptors such as digital assets and DeFi have been accelerated,” Wojciechowski added.Bermuda is positioned to become a global leader in climate risk financing solutions given its long history of covering catastrophic risks through innovative vehicles such as ILS. The BSX will continue to play a vital role in this area as the primary international listing services exchange for ILS securities. »

About BSX
BSX is one of the leading international electronic securities markets regulated by the Bermuda Monetary Authority (BMA), specializing in the listing and trading of capital market instruments such as equities, debt issues, funds, hedge funds, derivative warrants and insurance-linked securities. A full member of the World Federation of Exchanges and an affiliate member of the International Organization of Securities Commissions, BSX is globally recognized, including by the SEC. To learn more about BSX, visit www.bsx.com.

About MIAX
MIAX’s parent company, Miami International Holdings, Inc., owns Miami International Securities Exchange, LLC (MIAX), MIAX PEARL, LLC (MIAX Pearl), MIAX Emerald, LLC (MIAX Emerald), Minneapolis Grain Exchange, LLC (MGEX) and Bermuda Stock Exchange (BSX).

MIAX, MIAX Pearl, and MIAX Emerald are National Stock Exchanges registered with the Securities and Exchange Commission (SEC) that leverage MIAX’s state-of-the-art technology and infrastructure to provide options trading to their member firms listed in the United States. MIAX serves as the exclusive trading venue for cash-settled options on SPIKES Volatility Index (Ticker: SPIKE), a measure of expected 30-day volatility in the SPDR S&P500 ETF (SPY). In addition to options, MIAX Pearl facilitates cash trading of stocks through MIAX Pearl Equities.

MGEX is a registered exchange with the Commodity Futures Trading Commission (CFTC) and is an SEC-registered futures exchange. MGEX serves as the exclusive marketplace for a variety of commodities including Hard Red Spring Wheat, SPIKES Futures, BRIXX Commercial Real Estate Futures and TAX Futures. MGEX is a Designated Contracts Market (DCM) and Derivatives Clearing Organization (DCO) under the CFTC, providing DCM, DCO and spot market services across a range of asset classes.

MIAX’s executive offices and national operations center are located in Princeton, New Jersey, with additional offices located in Miami, Florida, Minneapolis, Minnesota, and Hamilton, Bermuda.

To learn more about MIAX, visit www.MIAXOptions.com.

To learn more about MGEX, visit www.mgex.com.

Media Contact:
Andy Nybo, Senior Vice President, Director of Communications
(609) 955-2091
[email protected]

Disclaimer and Caution Regarding Forward-Looking Statements
The press release does not constitute an offer to sell or a solicitation of an offer to buy securities of Miami International Holdings, Inc. (together with its subsidiaries, the Company), and does not constitute an offer, solicitation or sale in any state. or the jurisdiction in which this offer; the solicitation or sale would be unlawful. This press release may contain forward-looking statements. Forward-looking statements describe future expectations, plans, results or strategies and are generally preceded by words such as “may”, “future”, “plan” or “anticipated”, “will” or “should”, “expected”, ” anticipates”, “draft”, “possibly” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ. significantly from those projected. in forward-looking statements. The Company disclaims any obligation to update forward-looking statements, except as required by law.

All third party marks (including logos and icons) referenced by the Company remain the property of their respective owners. Unless specifically identified as such, the Company’s use of third party marks does not indicate any relationship, sponsorship or endorsement between the owners of such marks and the Company. Any reference by the Company to third-party trademarks serves to identify the corresponding third-party goods and/or services and will be considered nominative fair use under trademark law.

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MIAX-SOURCE; The Bermuda Stock Exchange

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