A new trading, clearing, settlement, and depository technology platform has been launched for The Bermuda Stock Exchange (BSX). This platform aims to enhance the operational capabilities of the BSX and is an integral part of a larger strategy to utilize proprietary technology across various exchanges.
This newly developed system integrates aspects of trading, middle and back-office functionalities, and central security depository (CSD) technology in collaboration with a Swedish firm known for providing global trading, clearing, and security solutions. The new platform features a comprehensive trading and market data dissemination system located in Bermuda along with off-site disaster recovery setups. Additionally, it includes a user-friendly web-based order management system (OMS) that streamlines the trading process, as well as middle office technology to facilitate market operations and ensure proper monitoring and reporting mechanisms are in place.
The enhanced technology not only modernizes BSX operations but also expands the types of products available to customers, demonstrating a commitment to adapt to changing market demands. Executives noted that the collaboration with experienced technology providers will strengthen Bermuda’s market infrastructure, ensuring that everything from trade execution to settlement is managed in a cohesive manner.
Scalability is a key feature of the new system, allowing for efficient growth across various asset classes while maintaining the high-speed performance that users have come to expect. Companies involved emphasized that this new platform was designed with input from market participants to effectively address the needs of the local capital market, while also paving the way for future opportunities in international capital markets.
Overall, the introduction of this integrated trading platform provides a best-in-class user experience that aligns with the exchange’s strategic vision and commitment to enhancing market operations.