BSX to host ACSDA 2011 General Assembly in Bermuda

The BSX will act as host for the ACSDA 2011 General Assembly being held from March 23-25, 2011, with attendees expected from the Americas, Europe, South Africa and the Baltic States.

ACSDA is a non-profit organization comprised of 25 Central Securities Depositories and Clearing Houses from North, Central and South America, the Caribbean and South Africa.

Founded almost 12 years ago and still headquartered in Lima, Peru, ACSDA’s main purpose is to be a forum for the bilingual exchange of information and experiences in English and Spanish among its members. ACSDA fosters a spirit of mutual cooperation and promotes best practice recommendations in services, such as securities depository, clearance, settlement, and risk management.

Mary Ann Callahan, president of ACSDA, and also managing director at The Depository Trust & Clearing Corporation in the U.S., noted: “ACSDA was formed in 1999, and our 2011 General Assembly in Bermuda, marks our very first meeting being hosted by one of our 12 island nation members.

“I know I speak for all of ACSDA’s members and guests when I say how excited we are to be convening the General Assembly in Bermuda, not only because of the magnificent venue, but also in anticipation that the meeting will undoubtedly continue our positive interaction and exchange of experiences which have become the hallmark of ACSDA’s events.

“The Bermuda Stock Exchange and Depository, since joining ACSDA in 2008, has been an active contributor to our various initiatives, and we are looking forward to working closely with BSX management as we prepare for this General Assembly”.

Mr. Neville Caines, BSX operations manager, said: “Attendance at ACSDA Conferences has been an extremely useful forum for BSX, with insightful sharing of ideas. Our collaboration and the camaraderie have provided a wealth of understanding in post trade processing. We have shared our experiences with our ACSDA colleagues in order to develop links and introduce harmonized standards that will become best practice throughout the Americas and enhance our local markets.”

Mr. Caines continued: “This is an excellent opportunity to utilize the resources available within ACSDA to further develop the expertise of the BSX and to further improve the Capital Market infrastructure in Bermuda. Additionally, the relationships and alliances forged within the ACSDA group affords the Exchange an opportunity to keep the Bermuda Capital Market in line with both cutting edge technology and international standards.”

Greg Wojciechowski, BSX president and CEO, added: "We are delighted to be hosting the America's’ Central Securities Depositories Association's 2011 General Meeting in Bermuda. The meeting will bring nearly 100 industry professionals from all over the Western Hemisphere to Bermuda.

“During the meeting, a wide variety of topical issues concerning the structure, operation and regulation of the world's clearing, settlement and depository organizations will be discussed.”

He went on to note: “Being in a position to contribute to a meeting of this caliber further illustrates the hard work done by the BSX team and the knowledge base it has developed and ensures that global standards of securities clearing and settlement are in place and operating in the Bermuda Capital Market.”

Further information on ACSDA can be found at www.acsda.org.