BSX is the world's leading listings platform for Catastrophe Bonds and other ILS structures.  Known as the "world's risk capital", Bermuda is an ideal location for the creation, listing and trading of sophisticated, securitised insurance-related instruments and is the leading ILS, property and catastrophe market globally.

 

Why List on the BSX

  • Recognised by HMRC and Irish Revenue under the "quoted Eurobond withholding tax exemption" allowing listed issuers to pay interest without deduction of withholding tax 
  • Competitive fees
  • Experienced team 
  • Flexible approach
  • Guaranteed timelines

 

How to List

  • 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 (audited accounts if available)
  • Corporate resolutions
  • Relevant contracts
  • Directors' undertaking and KYC
  • Issuer's undertaking
  • Sponsor's undertaking

 

Fees (all fees quoted in US$)

  INITIAL LISTING FEE ANNUAL LISTING FEE TOTAL DUE AT APPLICATION
Stand Alone Notes $2,500 $1,250 $3,750
Programmes $2,500 $1,250 $3,750
Programme Issues $500 $600 $1,100

  

Regulations

 

ILS Brochure


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