The WFE has signed a memorandum of understanding (MOU) with the African Securities Exchanges Association (ASEA), aimed at supporting the development of the wider African capital market.
The MOU has two key goals:
i) To support the development of market infrastructures in Africa and, through them, the development of the wider African capital market ecosystem; and
ii) To enable African market infrastructures to develop best practices based on global standards, while remaining appropriate to the needs of the region and nation in which they operate.
The WFE and ASEA have pledged to collaborate in developing and implementing programmes and projects, including finding ways to increase the amount of data published by the region, that deliver these two overarching objectives.”
ASEA is an association of 28 securities exchanges in Africa; its exchanges are home to approximately 1,100 listed companies with a total equity market capitalisation of $1.5 trillion. ASEA’s main objective is to unlock the potential of African capital markets, and enhance the development and global competitiveness of member exchanges.
Established in 1961, the WFE is the global industry association for exchanges and clearing houses. Headquartered in London, it represents over 200 market infrastructure providers, including standalone CCPs that are not part of exchange groups. Of its members, 36.8% are in Asia-Pacific, 42.6% in EMEA and 20.6% in the Americas. WFE exchanges are home to nearly 45,000 listed companies, and the market capitalisation of these entities is over $82.5 trillion; around $81.8 trillion (EOB) in trading annually passes through the infrastructures WFE members safeguard (at end 2017).
Seven African exchanges (out of a total of 70 WFE members) are full members of the WFE (Bourse de Casablanca, The Egyptian Exchange, Johannesburg Stock Exchange, Nairobi Securities Exchange, Nigerian Stock Exchange, Stock Exchange of Mauritius and Tunis Stock Exchange) and a further five African exchanges are affiliates. Overall, there are over 35 securities exchanges operating in Africa at different levels of maturity.
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