The Bermuda Stock Exchange (BSX) is uniquely positioned to provide issuers of domestic and international investment funds domiciled in all major international fund centres, an affordable, well-regulated and transparent listing venue.  We offer a pragmatic, solutions-focused approach to listing from an unrivaled location offering a commerical advantage for same-day, real-time access to markets in the Americas and Europe.

 

The BSX lists retail investment funds (at least 25% must be available to the public) and investment fund that are restriced to qualified investors.

 

Why List on the BSX

• World-class listings platform

• Globally accredited Exchange 

• Uniquely positioned

• Competitive fees

• Experienced team 

• Guaranteed timelines

 

How to List

• Appoint a listing sponsor from the list of approved sponsors who will guide you through the listing process

• Compile and submit key documents (may be in draft form)

• The BSX will review the application and if deemed fit and proper, provide approval in principle

• Submit final documents to BSX

• Approval and admission to listing

 

Key Listing Documents (see listing regulations for more details)

• Letter of application

• Offering/prospectus document and BSX wrapper (if applicable)

• Constitutional documents

• Relevant financial information (3 years audited accounts required for retail funds. If available for other investment funds.)

• Document(s) of title relevant to the issue

• Corporate resolutions

• Relevant contracts

• Directors' undertaking and KYC

• Issuer's undertaking

• Sponsor's undertaking

 

Fees (all fees quoted in US$)

Listing Fee Schedule

Fee calculator for ILS, Debt and CLOs (including discount option)

		INITIAL	ANNUAL
Listing Fee	Stand-alone entity/1 share class	$2,500	$3,000
	Entity with 2 share classes	$5,000	$4,800
	Entity with 3 share classes	$6,000	$6,000
	Entity with 4 - 10 share classes	$6,000	$7,200
	Entity with 11+ share classes (per class)	$600	$800
Account Service Fee*	Stand-alone entity/1 share class		$300
	Entity with 2 share classes		$500
	Entity with 3 share classes		$600
	Entity with 4 - 10 share classes		$800
	Entity with 11+ share classes (all)		$1,000

 

*Please see Listing Fee Schedule for further information

 

Listing Funds on the BSX Brochure

 

Regulations and Guidelines

• Guidelines to the Listing Regulations (replaces previous practice notes)

• Section I - All Issuers

• Section IV - Listing Regulations - Collective Investment Vehicles (Investment Funds)

 

Announcements and Forms

• Directors Declaration and Undertaking Form

• Form of Suitability Declaration for a "Qualified Investor"

• Issuers Undertaking Form - Domestic and International Funds - Open to the Public

• Issuers Undertaking Form - Domestic and International Funds - Restricted Marketing

• Sponsors Declaration Form - IV - Collective Investment Vehicles - Open to the Public

• Sponsors Declaration Form - IV - Collective Investment Vehicles - Restricted Marketing

 

Templates

     The following templates are provided to assist issuers in making regulatory announcements

• Company Announcement Template - General 

• Director Appointment and Resignation Announcement and Associated Email/Cover Letter

• Director Appointment Announcement and Associated Email/Cover Letter

• Director Resignation Announcement and Associated Email/Cover Letter