Bermuda Monetary Authority

Bermuda Stock Exchange Begins Publishing MIAX Pearl Equities Market Data to the Pyth Network

Tuesday, September 21, 2021 - 1:00pm

MIAX Pearl Equities market data is among the first U.S. equities exchange market data provided to the Pyth Network and was first published to the Pyth Network on September 13, 2021.

Key Points: 
  • MIAX Pearl Equities market data is among the first U.S. equities exchange market data provided to the Pyth Network and was first published to the Pyth Network on September 13, 2021.
  • "BSX is delighted to begin publishing MIAX Pearl Equities market data to the Pyth Network and anticipates we will quickly expand the breadth of data we are publishing to the network," said Thomas P. Gallagher, Chairman of BSX and Chairman & CEO of MIAX.
  • The addition of MIAX Pearl Equities market data represents a critical inflection point for the Pyth Network as the availability of high fidelity market data from U.S. equities exchanges is unprecedented in DeFi."
  • MIAX's parent holding company, Miami International Holdings, Inc., owns Miami International Securities Exchange, LLC (MIAX), MIAX PEARL, LLC (MIAX Pearl), MIAX Emerald, LLC (MIAX Emerald), the Minneapolis Grain Exchange, LLC (MGEX), and the Bermuda Stock Exchange (BSX).

24 Exchange Completes First Physical Cryptocurrency Trade

Wednesday, September 15, 2021 - 5:00pm

HAMILTON, Bermuda, Sept. 15, 2021 /PRNewswire/ -- 24 Exchange announced today that it has completed its first physical cryptocurrency trade on its robust institutional-grade platform, making it the only global platform offering both crypto and FX trading on a single technology.

Key Points: 
  • HAMILTON, Bermuda, Sept. 15, 2021 /PRNewswire/ -- 24 Exchange announced today that it has completed its first physical cryptocurrency trade on its robust institutional-grade platform, making it the only global platform offering both crypto and FX trading on a single technology.
  • Joining with Cumberland DRW and QCP will further establish 24 Exchange as a leading multi-asset exchange platform.
  • 24 Exchange is a multi-asset class trading platform that allows market participants to exchange their exposures at the lowest possible cost.
  • 24 Exchange is operated by 24 Exchange Bermuda Limited.

MIAX to Launch Suite of BRIXX™ Commercial Real Estate Futures on MGEX

Wednesday, September 15, 2021 - 4:30pm

BRIXX futures and options will provide investors with targeted exposure to the $16 trillion commercial real estate market, including the Residential, Retail, Office and Hospitality commercial real estate sectors.

Key Points: 
  • BRIXX futures and options will provide investors with targeted exposure to the $16 trillion commercial real estate market, including the Residential, Retail, Office and Hospitality commercial real estate sectors.
  • BRIXX CRE Indexes measure real-time real estate returns and are priced using real-time public market data aggregating over $750 billion in property values.
  • "We are pleased to launch the new BRIXX CRE futures, which are based on Advanced Fundamentals' suite of index products that measure real estate prices without the pricing lag associated with traditional CRE indexes," said Thomas P. Gallagher, Chairman of MGEX and Chairman & CEO of MIAX.
  • "These products provide professional real estate investors with an innovative tool that affords real time access and synthetic exposure to the physical real estate market."

MIAX to Launch Suite of BRIXX™ Commercial Real Estate Futures on MGEX

Wednesday, September 15, 2021 - 4:30pm

PRINCETON, N.J. and MINNEAPOLIS, Sept. 15, 2021 /PRNewswire/ -- MIAX, creator and operator of high-performance securities exchanges, products and services, will launch cash-settled futures contracts on BRIXX™ Commercial Real Estate (CRE) Indexes developed by Advanced Fundamentals.  The first contract to be listed will be the BRIXX Retail Index futures contract which is expected to begin trading on October 4, 2021.  Three additional BRIXX CRE Index futures are expected to be listed in the fourth quarter of 2021.  Cash-settled options on the BRIXX CRE Indexes will launch on MIAX, also targeted for fourth quarter of 2021. The launch of the futures and options contracts remain subject to regulatory approval.

Key Points: 
  • New Futures Contracts Provide Exposure to Four Commercial Real Estate Sectors; First Futures to Launch on October 4, 2021
    PRINCETON, N.J. and MINNEAPOLIS, Sept. 15, 2021 /PRNewswire/ --MIAX, creator and operator of high-performance securities exchanges, products and services, will launch cash-settled futures contracts on BRIXX Commercial Real Estate (CRE) Indexes developed by Advanced Fundamentals.
  • BRIXX futures and options will provide investors with targeted exposure to the $16 trillion commercial real estate market, including the Residential, Retail, Office and Hospitality commercial real estate sectors.
  • BRIXX CRE Indexes measure real-time real estate returns and are priced using real-time public market data aggregating over $750 billion in property values.
  • "These products provide professional real estate investors with an innovative tool that affords real time access and synthetic exposure to the physical real estate market."

Investment Manager Brings to Market Turnkey Fund Launch Solution for Digital Asset Hedge Fund and Venture Capital Investment Strategies

Wednesday, September 15, 2021 - 12:30pm

DigitalArray also announced the launch of the initial fund on the platform, Alpha Sigma Capital (Offshore) ISA ("Alpha Sigma").

Key Points: 
  • DigitalArray also announced the launch of the initial fund on the platform, Alpha Sigma Capital (Offshore) ISA ("Alpha Sigma").
  • We leverage best-of-breed infrastructure partners for our funds so we can focus on performance," said Enzo Villani, Chief Investment Officer and Managing Partner at Alpha Sigma Capital Fund, LP.
  • "With the explosive growth in digital assets, we saw an opportunity to harness unique sources of outsized return from these markets.
  • The Fund is managed by Alpha Sigma Capital Advisors, LLC, a U.S.-based investment advisor, and provides investors with exposure to an array of digital assets and equity investments in digital asset companies.

Bermuda Insurers and Reinsurers Ready to Support Hurricane Ida Recovery Process

Thursday, September 2, 2021 - 6:39pm

The Bermuda Business Development Agency (BDA) and the greater Bermuda (re)insurance industry stand ready to support Americans in the aftermath of Hurricane Ida, which made landfall in the United States as a Category 4 hurricane and has since been downgraded to a post-tropical cyclone.

Key Points: 
  • The Bermuda Business Development Agency (BDA) and the greater Bermuda (re)insurance industry stand ready to support Americans in the aftermath of Hurricane Ida, which made landfall in the United States as a Category 4 hurricane and has since been downgraded to a post-tropical cyclone.
  • Bermudas (re)insurers have a long history of financing post-disaster recovery processes across the world and we stand ready to assist in times of need.
  • Over the years, Bermuda has proven to be a strong ally of the United States and has provided substantial support to Americans after past natural disasters, noted John Huff, President and CEO, Association of Bermuda Insurers and Reinsurers (ABIR).
  • In its latest Market Segment Report , published August 31, 2021, AM Best ranked 14 Bermuda (re)insurers in the top 50 worldwide.

Minister of Finance and BDA Deputy Chair Discuss What’s Next for Bermuda

Monday, August 23, 2021 - 6:44pm

Curtis L. Dickinson, JP, MP, and BDA Deputy Chair, Susan Pateras, discussing how Bermuda is set to become the worlds climate risk finance capital .

Key Points: 
  • Curtis L. Dickinson, JP, MP, and BDA Deputy Chair, Susan Pateras, discussing how Bermuda is set to become the worlds climate risk finance capital .
  • Bermuda is known as being the worlds risk capital and we have a large number of insurance and reinsurance companies here who operate out of Bermuda, Minister Dickinson said.
  • The next edition of the Bermuda Angle Webinar Series, discussing climate risk finance, will air in September 2021.
  • The moderator will be BDA Chair, Stephen Weinstein and will feature panellists from the Association of Bermuda Insurers and Reinsurers (ABIR), Alternative Investment Management Association Limited (AIMA) Bermuda and the Bermuda Monetary Authority (BMA).

The "Diamond Standard" for the Regulated Diamond Commodity is Set, Like 0.999 for Gold

Thursday, August 19, 2021 - 7:00pm

NEW YORK, Aug. 19, 2021 /PRNewswire/ -- Diamond Standard Co. , the developer of the only regulator-approved diamond commodity, announced today the successful establishment of the Diamond Standard itself -- the public index of gemological content inside the commodity.

Key Points: 
  • NEW YORK, Aug. 19, 2021 /PRNewswire/ -- Diamond Standard Co. , the developer of the only regulator-approved diamond commodity, announced today the successful establishment of the Diamond Standard itself -- the public index of gemological content inside the commodity.
  • The "Diamond Standard" for the Regulated Diamond Commodity is Set, Like 0.999 for Gold.
  • Like the 0.999 standard for gold bars, the Diamond Standard is a permanent statistical index of diamond characteristics, such as carat weight, color and clarity, that must be contained in every Diamond Standard Coin.
  • Diamond Standard is the creator of the world's only regulated diamond commodity.

NORTHSTAR FINANCIAL SERVICES (BERMUDA) INVESTOR ALERT: KlaymanToskes Investigates Investor Losses in Light of Company’s Chapter 15 Bankruptcy and Liquidation Order by the Supreme Court of Bermuda

Monday, June 21, 2021 - 9:43pm

MIAMI, June 21, 2021 (GLOBE NEWSWIRE) -- National investor fraud law firm, KlaymanToskes (KT), announces an investigation on behalf of investors in Northstar Financial Services (Bermuda) Ltd. following its recent bankruptcy and order to liquidate by the Bermuda government.

Key Points: 
  • MIAMI, June 21, 2021 (GLOBE NEWSWIRE) -- National investor fraud law firm, KlaymanToskes (KT), announces an investigation on behalf of investors in Northstar Financial Services (Bermuda) Ltd. following its recent bankruptcy and order to liquidate by the Bermuda government.
  • In 2019, the owner of Northstar Financial Services (Bermuda), Greg Lindberg, was indicted on federal wire fraud and bribery charges, and he is currently serving in prison after his conviction last year.
  • Months after Lindbergs conviction, on October 1, 2020, the Bermuda Monetary Authority issued proceedings against Northstar Financial Services (Bermuda), and, on March 26, 2021, the Supreme Court of Bermuda issued a winding up order against the company.
  • The sole purpose of this release is to investigate investment advice provided by full-service brokerage firms related to Northstar Financial Services (Bermuda).

New Underwriter Arcadian Risk Launches in Bermuda

Thursday, September 17, 2020 - 12:36pm

Arcadian Risk Capital Ltd. (Arcadian) announced today they are launching as a new underwriting operation based in Bermuda.

Key Points: 
  • Arcadian Risk Capital Ltd. (Arcadian) announced today they are launching as a new underwriting operation based in Bermuda.
  • Arcadian has received its licence from the Bermuda Monetary Authority and will operate as a Managing General Agent (MGA).
  • Third Point Reinsurance Ltd (TPRE) will own a minority stake in Arcadian and will provide insurance paper and capacity to the MGA.
  • Bermuda-based Arcadian Risk is a Managing General Agent (MGA) that writes Excess Risk Management Casualty and Excess and Primary Professional Liability insurance.