The Bermuda Stock Exchange (BSX) has increased its international standing by being recognised by the Irish tax authorities.

James McKirdy, chief compliance officer at the BSX, said: “Receiving confirmation by the Irish tax authorities that the BSX is considered a recognised stock exchange for the purposes of Section 64 of Ireland’s Taxes Consolidation Act 1997, is a very positive step forward for the BSX international debt listing platform.

“The BSX has seen steady growth in its international debt listing business over the last 18 months with over 50 new debt listings. This confirmation is an excellent way to begin 2016.”

In a statement, the BSX said the essential function of the designation is to articulate the tax treatment for listed debt vehicles deemed to be quoted Eurobonds.