Role of a Listing Sponsor

A Listing Sponsor acts as the main channel of communication between the BSX and an issuer and its advisors in relation to its listing or potential listing of securities.

A Listing Sponsor's role is to provide guidance and advice on the application and interpretation of Listing Regulations and ensures that:

1.   The issuer is eligible and suitable for listing,

2.   The qualifications for listing are met,

3.   Documentation is complete and includes all relevant disclosures, and

4.   The issuer's management understands the nature of a listing and their responsibilities on listing.

The BSX lists all types of securities including equity, debt, mutual funds, insurance related securities and depository receipts and relevant documentation and disclosure requirements are proved in the Listing Regulations.

Premium and Standard Listing Sponsor

The BSX recognises two types of Listing Sponsors:

Premium Listing Sponsor: can sponsor all types of securities including those, which are open to the public

Standard Listing Sponsor: can sponsor the secondary listing of an equity and all other types of securities where investors are restricted to Qualified Investors

Current Listing Sponsors

Listing Sponsors Requirements

A Listing Sponsor is required to be a Bermuda incorporated entity, which is suitably qualified and experienced in providing capital markets advice and service to issuers.  It also needs to demonstrate it is of good reputation and character with:

1.   appropriate corporate governance and organisation structures;

2.   Senior Executives with adequate knowledge, skills and experience of and in the securities industry;

3.   adequate technical and operational systems and resources;

4.   appropriate risk management, compliance arrangements, internal controls, policies and procedures;

5.   appropriate compliance arrangements, policies, procedures and controls for the prevention of money laundering an terrorist financing;

6.   appropriate complaint handling procedures;

7.   appropriate insurance arrangements in place to cover risks inherent in the operation of its business

8.   suitable staff which are adequately trained and properly supervised;

9.   proper books and records related to its activities

Application to become a Listing Sponsor

A Listing Sponsor should complete a Listing Sponsor application form and accompany their application with an appropriate fee.  The BSX provides support and guidance to an applicant throughout the membership process.  Any questions on the application or the requirements should be directed to listings@bsx.com.

Fees

The application fees are as follows:

Standard Listing Sponsor:  $7,500

Premium Listing Sponsor: $10,000

The same annual fee applies to both on a pro-rated basis.

A Listing Sponsor who is also a Trading member, benefits from a combined membership rate as detailed in the Listing Sponsor Fee Schedule.

Regulations and Forms

Listing Sponsor Regulations

Listing Sponsor Undertaking Forms for new listings

Current Listing Sponsors