system so as to get out of paper transactions and to comply with international standards.

Along with the system change, the BSX will move to continuous trading from 9 a.m. to 3.30 p.m. The BSX plans on making the switch on October 1.

The Bermuda Electronic Securities Trading (BEST) system will automate trading on secure servers housed in Bermuda. Currently the BSX is using Bloomberg terminals to facilitate trading with paper transactions.

The system supports trading multiple markets with continuous auction, single price auction and print trades, as well as multiple securities in multiple currencies.

"The implementation of BEST will comprise our own mini `Big Bang' as we will be moving to continuous trading from 9 a.m. to 3.30 p.m., switching to decimal pricing and implementing automated execution all at the same time.'' Domestic securites currently trade on the BSX from 9 a.m. to 10 a.m. and from 3 p.m. to 3.30 p.m.