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Bermuda Stock Exchange Joins The European Securitisation Forum (ESF)

Date 15/08/2008

The Bermuda Stock Exchange announced that it has joined the European Securitisation Forum (ESF), an affiliate of the Securities Industry and Financial Markets Association (SIFMA).

The ESF is a broadly based professional forum through which participants in the European securtisation markets advocate their common interests on important legal, regulatory, accounting and market practice issues. The ESF is comprised of investors, investment banks, legal firms, securities brokerage firms, stock exchanges and other financial services institutions.

In making the announcement BSX President & CEO, Greg Wojciechowski said, “The BSX is delighted to have joined and been accepted to membership of this prestigious group of industry professional that are committed to ensuring that the European securitisation markets evolve in a fashion that speaks to the current challenges being experienced generally in the securitisation markets globally and which promotes industry standards that provide additional disclosure, thus making this segment of the global capital market more transparent.”

He went on to say, “The BSX made the decision to join the ESF after experiencing an increased level of interest in the listing of securitised products, following its designation as a Recognised Stock Exchange, by the UK’s HM Revenue and Customs. He noted that queries were being fielded from European product originators and their service providers. The BSX welcomed the invitation to join the ESF as it felt that being a member would provide the Exchange with a strong link and information flow to keep abreast of important changes occurring in this industry sector. It also gives the Exchange a gateway through which to provide input to the ESF membership on its experiences in the securitisation segment of the capital market.”

In closing Mr. Wojciechowski stated, “The BSX looks forward to being part of the ESF with the hope of contributing in a meaningful fashion where appropriate.