On May 2, the market closed at 5,188.66 points, up 14.12 or 0.27% on the previous close. Some $28.5 million worth of shares were traded, with the most active stock being that of Butterfield Bank which hit a one-year high of $60 last Tuesday, after more than 470,000 of the company's shares changed hands. LOM Holdings and Argus Group also hit one-year highs last week.

“The RG BSX Index continues to perform solidly," commented BSX president and chief executive officer Greg Wojciechowski. "The increase in the index value is a function of the market’s perception of the value and success of the publicly owned Bermuda domestic companies that make up the index."

“These results point to the strength and success of Bermuda companies and that the Bermuda domestic capital market continues to develop, providing Bermudians with tangible investment opportunities here at home," he added.

Business on the Bermuda Stock Exchange has been given a considerable boost in recent years after official recognition was granted by onshore authorities. In the second half of 2005, the BSX was granted both Approved Stock Exchange status by the Australian tax authority and designation from the UK’s Financial Services Authority.

The two designations, coupled with the recent consolidation activity in the global stock exchange industry, have resulted in a heightened level of interest in BSX products and the Exchange itself.

The BSX/RG Composite Index ended last year at 4,860.32, up 25.1% compared with 2005. Domestic trading volumes increased from 2.9 million shares to 3.9 million shares with a corresponding value of over $120 million, one of the highest value turnover levels in the Exchange’s history.

The total market capitalization of the BSX as at 31 December 2005 (excluding fund listings) stood at over $350 billion, of which approximately $2.6 billion represented the domestic market.

As at 31 December 2006, 428 issuers were listed on the BSX. Included in new listings were Jupiter Adria Limited, an international equity issue and 3 international derivative warrant issues. There were also 22 new collective investment vehicles listed and 49 subsequent issues processed during the year, including the local BAS and BF&M Rights issues.