Miami International Holdings and BSX Unveil New Trading and Settlement Platform

Miami International Holdings (MIM) has launched a fully integrated trading, clearing, settlement and depository (CSD) technology platform for The Bermuda Stock Exchange (BSX). “The launch of the new BSX technology platform represents an important milestone in our strategy to build and operate all our exchanges utilizing proprietary MIAX technology,” said Thomas Gallagher, chair and chief executive at MIH. BSX’s new platform will utilize MIAX proprietary trading, middle- and back-office technology with the CSD technology built in conjunction with Swedish-based Vermiculus. MIM added that the trading platform features a trading and market data dissemination system in Bermuda; off-island disaster recovery systems; a web-based order management system (OMS); middle-office technology to support system configuration and integration, market operations, surveillance and reporting services; and a CSD system.   “MIAX’s proven technology, coupled with Vermiculus’ leading international market infrastructure capabilities, expands our ability to support Bermuda’s market with a fully integrated exchange platform managing the trade cycle from execution to clearing and settlement,” said Greg Wojciechowski, president and chief executive of BSX.