HAMILTON, Bermuda and PRINCETON, N.J., Sept. 24, 2020 /PRNewswire/ — The Bermuda Stock Exchange (BSX) and parent company Miami International Holdings, Inc. (MIH), today announced that the Hashdex Nasdaq Crypto Index ETF was approved for listing on the BSX.
BSX President and CEO Greg Wojciechowski commented, “The team at the BSX welcomes the Hashdex Nasdaq Crypto Index ETF listing. The ETF listing is the first structure of its kind to list on the BSX, and dovetails with the BSX’s longer-term strategy to support and seek opportunities in the developing fintech industry.”
Thomas P. Gallagher, BSX Chairman and Chairman and Chief Executive Officer of MIH, stated, “We are pleased that the Hashdex Nasdaq Crypto Index ETF chose to list on the BSX – a development that underscores the BSX’s commitment to provide exchange support for the emerging digital assets securities market. Bermuda’s innovative culture and standing as a successful international financial center were key contributors in MIH’s decision to invest in the BSX and Bermuda.”
Marcelo Sampaio, Hashdex CEO stated, “We are truly excited to bring to market the first true crypto ETF in the world with the support of the BSX, MIH and Nasdaq. We believe that the launch of the Hashdex Nasdaq Crypto Index ETF is significant and is poised to transform financial markets in big ways in the years to come.”
The Hashdex Nasdaq Crypto Index ETF is an open-ended investment fund that will work as a traditional ETF, with a creation and redemption mechanism involving the delivery of a basket of assets or cash by authorized participants. It will track the Nasdaq Crypto Index to represent the institutional investable landscape of cryptocurrency assets.
Appleby (Bermuda) Limited acted as Bermuda counsel for the Hashdex Nasdaq Crypto Index ETF and Clarien BSX Services Limited was listing sponsor for the BSX. Appleby partner Steven Rees Davies stated, “The listing of the Hashdex Nasdaq Crypto Index ETF on the BSX is a great achievement for both the Hashdex and BSX teams and is testament to how real the opportunities are in the digital asset sector for those willing to think outside the box and create solutions that facilitate regulated access to new markets.”
Through its ownership interest in the BSX, MIH will provide additional support to the evolving fintech, insurtech and global (re)insurance market on a global scale.
The BSX is a fully electronic offshore securities market regulated by the BMA. It specializes in the listing and trading of capital market instruments such as equities, debt issues, funds, hedge funds, derivative warrants and is the leader in the listing of insurance-linked securities (ILS).
For further information regarding the BSX, please visit www.bsx.com.
About the BSX
Established in 1971 the Bermuda Stock Exchange (BSX) is now the leading electronic offshore securities market. The BSX specializes in listing and trading of capital market instruments such as equities, debt issues, funds, hedge funds, derivative warrants and insurance linked securities (ILS). The BSX, recognized by the United States Securities and Exchange Commission as a Designated Offshore Securities Market, is a member of the World Federation of Exchanges, an associate member of IOSCO and is located in an O.E.C.D. member nation. The BSX has Approved Stock Exchange status under Australia’s Foreign Investment Fund (FIF) taxation rules; Designated Investment Exchange status by the UK’s Financial Services Authority; Recognized Stock Exchange by the UK HM Revenue and Customs; Designated Exchange status under Canada’s Income Tax Act and is a member of America’s Central Securities Depository Association.
About MIH and the MIAX Exchange Group
Miami International Holdings, Inc. (MIH) is the parent holding company of Miami International Securities Exchange, LLC (MIAX®), MIAX PEARL, LLC (MIAX PEARL®) and MIAX Emerald, LLC (MIAX Emerald™ and together with MIAX and MIAX PEARL, the MIAX Exchange Group™), three options trading exchanges. MIH also owns a controlling interest in the Bermuda Stock Exchange.
MIAX, MIAX PEARL and MIAX Emerald options exchanges leverage the MIAX Exchange Group’s industry-leading technology and infrastructure to provide their member firms with traditional pricing and pro rata allocation (MIAX), maker-taker pricing and price-time allocation (MIAX PEARL) market structures, and a hybrid market structure with maker-taker pricing and pro rata allocation (MIAX Emerald).
MIAX Options serves as the exclusive exchange venue for cash-settled options on the SPIKES® Volatility Index (Ticker: SPIKE), a measure of the expected 30-day volatility in the SPDR® S&P 500® ETF (SPY).
MIH will launch its first equities exchange, MIAX PEARL Equities, on September 25, 2020. MIAX PEARL Equities will provide its members with best-in-class performance through a combination of high determinism, low latency and high throughput. MIAX PEARL Equities will have a maker-taker pricing and price-time allocation model.
The MIAX Exchange Group’s executive offices and National Operations Center are located in Princeton, NJ, with additional offices located in Miami, FL.
To learn more about MIH and the MIAX Exchange Group visit www.MIAXOptions.com.
Disclaimer and Cautionary Note Regarding Forward-Looking Statements
The press release shall not constitute an offer to sell or a solicitation of an offer to purchase any securities of Miami International Holdings, Inc. (together with its subsidiaries, the Company) or the Bermuda Stock Exchange (BSX), and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such offer; solicitation or sale would be unlawful. This press release may contain forward-looking statements, including forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements.
All third-party trademarks (including logos and icons) referenced by the Company or the BSX remain the property of their respective owners. Unless specifically identified as such, the Company’s or the BSX’s use of third-party trademarks does not indicate any relationship, sponsorship, or endorsement between the owners of these trademarks and the Company or the BSX. Any references by the Company or the BSX to third-party trademarks is to identify the corresponding third-party goods and/or services and shall be considered nominative fair use under the trademark law.
SOURCE Miami International Holdings, Inc.