Mauritius, Tuesday, 29th October 2013 – Global Board of Trade Ltd. (GBOT), the first international multi-asset class exchange from Mauritius will now be known as BOURSE AFRICA LIMITED (BOURSE AFRICA). The change in the name symbolizes the larger focus of the exchange towards Africa and the opportunities offered by the African Financial and Commodities Markets.
Mr. Rinsy Ansalam, MD & CEO of Bourse Africa (formerly GBOT), said: “The decision to change the name from GBOT to Bourse Africa is a representation of our absolute focus towards African Financial and commodity Markets. Bourse Africa endeavors to provide market participants with an efficient market for Africa centric risk management, trading, investing and capital raising needs.”
The exchange was formally launched on 15th October 2010 by Dr The Honourable Navinchandra Ramgoolam, GCSK, FRCP, Prime Minister of the Republic of Mauritius and went live with trading on 18th October 2010. Ever since its launch, the exchange has lived the spirit of innovation through various market and product development initiatives. Some of the landmark developments at the exchange include –
· Successfully launched Contracts for Difference (CFDs) on commodities and currencies – the 1st exchange in Africa and 2nd in the world to introduce exchange traded CFDs
· Collaborated with Nairobi Securities Exchange (NSE) and Ghana Stock Exchange (GSE) to introduce African equity index futures of both exchanges
· Launched its financial markets education initiative titled “Empowerment & Development through ‘Global financial markets’ Education” (EDGE). Under the programme, over 100 workshops and seminars have been conducted in Mauritius, Ghana, Kenya, South Africa and Nigeria to create awareness on financial markets and educate participants
· Extended trading hours, from 6.00 am to 6.00 pm (GMT) to enable the global investment community to trade vis-à-vis international markets
· Created a modern co-location centre to provide proximity hosting for members to access market data within a short span of time hence, enabling the development of innovative low latency trading strategies
· Introduced commodity futures, African and Global currency futures, CFDs on commodities and currencies.
· Bourse Africa Clear Ltd. has been formed to act as the designated Clearing House of Bourse Africa, an independent entity licensed by the Financial Services Commission (FSC) of Mauritius.
Commenting on the developments, Mr. Rinsy Ansalam added that, “At Bourse Africa, we envision to be the global hub for Africa centric risk management, trading, investing and capital raising requirements. We are successfully progressing towards our vision through our market democratization initiatives that include – market education, product innovation, development of retail participation, pan African and global collaborations, state-of-the-art technology implementation that includes direct market access to clients and ensuring high level of support and service to all market participants.”
About BOURSE AFRICA (www.bourseafrica.com)
BOURSE AFRICA LIMITED (Bourse Africa) is the first international multi-asset class exchange from Mauritius that currently offers trading on three market segments viz., commodities, currencies and equities.
The exchange offers participants, from across the globe, access to a tech centric market that is regulated, liquid and transparent with efficient clearing and settlement systems. Bourse Africa’s state of the art infrastructure provides a world class platform for risk management, trading and investment on global and African products. The exchange is licensed and regulated by Financial Services Commission (FSC), Mauritius to offer trading in commodity derivatives, currency derivatives, equity cash and equity derivatives.
BOURSE AFRICA CLEAR LTD is the designated Clearing House of Bourse Africa and acts as the counterparty to its Clearing Members. The clearing house is an independent entity which is licensed by the Financial Services Commission (FSC) of Mauritius.
Bourse Africa is promoted by the Financial Technologies Group (www.ftindia.com), a global leader in setting up and operating tech-centric next generation exchanges in the emerging but fast growing economies from Africa to Asia and Middle East to South-East Asia.
Source: BOURSE AFRICA LIMITED