Moves to create a pan-African stock exchange are well underway at JSE Securities Exchange South Africa (JSE) under the auspices of New Partnership for Africa's Development (Nepad), the goal of which is the further development of African capital markets, including the listing of new equity derivatives products.
The news emerged at the June meeting of World Economic Forum (WEF) in Durban. JSE revealed it was making progress in developing a model for the new pan-African exchange that would use JSE's infrastructure while allowing individual African exchanges to retain their autonomy and list their counters commonly, and permit all exchange members to trade, clear and settle on the new market.
According to...