Date
18/12/2020
Miami International Holdings (MIH), the parent holding company of MIAX®, and the Bermuda Stock Exchange (BSX) today announced that MIH has acquired 100% ownership of the BSX. MIH previously announced the acquisition of a majority interest in the exchange in November 2019. The BSX will continue its operations as a wholly owned subsidiary of MIH.
This acquisition aligns directly with MIH's corporate strategy, allowing the company to expand its world-class technology, derivatives trading and regulatory expertise to address emerging markets, such as digital assets, and provide the BSX with additional support in the evolving global (re)insurance risk market.
“We have long held that the Bermuda government's commitment to fintech regulation and the country’s established (re)insurance market make the BSX and Bermuda key components of MIH’s global ambitions,” said Thomas P. Gallagher, Chairman and CEO of MIH and BSX Chairman. “We are thrilled to complete this acquisition and have the BSX as a wholly owned subsidiary. BSX CEO Greg Wojciechowski and his team have done a tremendous job of helping to expand Bermuda’s domestic capital market and positioning the BSX for future growth. We look forward to MIH and the BSX jointly pursuing various initiatives, especially in the digital asset and (re)insurance sectors.”