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In an excellent example of the private and public sectors working together for the benefit of the domestic economy and Bermudian investors, the Government of Bermuda again underscored its commitment to the development of the domestic capital market through financial support made available to the Bermuda Stock Exchange (“BSX”) as set out by Minister Cox in the 2007/2008 National Budget.
In acknowledging the continued support from the Government, BSX President & CEO Greg Wojciechowski said: “ We were delighted to learn that the BSX will be provided with financial support for the period 2007/2008. On behalf of the Council of the BSX, I extend our gratitude to the Minister of Finance, to the Ministry and to the Government for the support shown to the BSX.”
Deputy Premier and Minister of Finance the Hon. Paula A. Cox, JP, MP stated: “The Bermuda Stock Exchange is a vital player in Bermuda’s financial service sector as it adds to our reputation as a domicile of choice for international business.”
Greg Wojciechowski further noted that, “The development of a country’s stock exchange and its domestic capital market is a collaborative effort impacting and involving many areas of the financial services community. For example, the Exchange must ensure that its policies provide the basic principles to safeguard investors while ensuring that the market is fair, secure and efficient while broadly dovetailing with the regulatory principles and philosophy of the jurisdiction in which it operates. The BSX through the support of the private and public sectors has struck this balance in respect of our regulatory approach and operational infrastructure.”
Today, the Stock Exchange in Bermuda is an institution of which we should all be proud. The BSX has been largely developed, and is currently operated, by Bermudian professionals and has been endorsed by the Bermuda Monetary Authority as well as key international regulatory authorities. We are confident that the BSX platform will continue to be fully capable of supporting the domestic market’s capital raising needs which in turn will provide Bermudian investors with new investment opportunities through which they will be able to participate in the success of the country’s business sector”
