Bermuda (officially, The Bermuda Islands or The Somers Isles) is a British overseas territory in the North Atlantic Ocean. Located off the east coast of the United States, it is situated around 1770 km (1,100 mi) northeast of Miami, Florida. Although commonly referred to in the singular, the territory consists of approximately 138 islands, with a total area of 53.3 km2 Bermuda's capital, the "City of Hamilton", lies in Pembroke Parish, not in "Hamilton Parish", on the largest island, "Main Island", which itself is sometimes called "Bermuda". Because Bermuda is not a nation, there is no National Bird, Tree, or Flower as such; however, there are several important species worth mentioning that have a special place in every Bermudian's heart.Bermuda Flag Since Bermuda is still a British Overseas Territory, the flag is composed of a red background with the Union Flag (Jack) of England in the upper left corner and the Bermuda Coat of Arms centred on the right side, on the 'fly' of the flag. The flag was adopted in 1910 and officially approved in 1967. Bermuda has internal self-government. The Bermuda Stock Exchange (BSX) was established in 1971, primarily as a domestic equities market. However as the Island's international financial sector grew so did the Exchange and in 1992 the company was restructured into a for -profit entity. Today, the BSX is the world's largest offshore , fully electronic securities market offering a full range of listing and trading opportunities for international and domestic issuers of equity, debt, depository receipts, insurance securitization and derivative warrants. = (of companies and banks) based in a different country with advantages regarding tax rules BSX has a current market capitalization (excluding mutual funds) in excess of US$300 billion =Market capitalization is a measurement of corporate or economic size equal to the share price times the number of shares outstanding of a public company Approximately 400 securities are listed on the BSX, of which almost 300 are offshore funds and alternative investment structures. The exchange specializes in listing and trading of capital market instruments such as stocks, bonds, mutual fund (including hedge fund structures) and depository receipt programs.
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