JSE joins Brics’ stock market cross-listing venture

Stock exchanges from Brazil, Russia, India, Hong Kong and South Africa on Wednesday unveiled a cross-listing agreement for derivatives in a bid to increase economic partnerships, officials said.

The BM&F BOVESPA from Brazil, MICEX from Russia, Hong Kong Exchanges and Clearing Limited (HKEx) and South Africa’s JSE would start the product-sharing by June 2012.

The National Stock Exchange of India (NSE) and the BSE Ltd will join after meeting the final requirements in their country. The exchanges have a combined market capitalisation of $9-trillion, they said in a joint statement.

Collectively, the five major emerging economies are known as Brics. The five countries this year have taken a series of steps toward closer economic and diplomatic ties.

“We are all looking for ways to grow, to expand our core market. Brics is a really big commodity play,” said HKEx chief executive Charles Li in a statement.


The decision was announced at the World Federation of Exchanges (WFE) in Johannesburg.

Under the deal, the exchanges will cross-list benchmark equity index derivatives. Later they plan to develop new products to track the exchanges.

The bourses have 9 481 companies listed on them and accounted for 18 percent of global exchange-listed derivative contracts traded by volume as of June 2011.

“The Brics exchanges alliance holds great promise, as it will create avenues for Indian investors to diversify and expand into other emerging markets,” said BSE head Madhu Kannan. — Sapa-AFP

Subscribe to the M&G for R2 a month

These are unprecedented times, and the role of media to tell and record the story of South Africa as it develops is more important than ever.

The Mail & Guardian is a proud news publisher with roots stretching back 35 years, and we’ve survived right from day one thanks to the support of readers who value fiercely independent journalism that is beholden to no-one. To help us continue for another 35 future years with the same proud values, please consider taking out a subscription.

And for this weekend only, you can become a subscriber by paying just R2 a month for your first three months.

Related stories

Indians in South Africa, a historical excerpt

In the book, The Indian Africans, academic Kiru Naidoo explores the society of colonial Natal in the late 1800s to early 1900

A colossus with feet of clay

South Africa is disproportionately targeted by cybercriminals. Digital attacks call for digital solutions and technology is a the prime weapon in this fight

China’s resource-for-infrastructure deals

Are RFIs a viable model for aiding Africa’s economic development?

The president, the preacher and the great escape

Malawi’s new president was furious after Shepherd Bushiri’s dramatic disappearance from South Africa

China blamed for Zambia’s debt, but the West’s banks and agencies enabled it

The narratives about the African country’s debt crisis are being used as fodder in geopolitical battles

Patel: South Africa on target to attract R1.2-trillion in investments

The trade minister says the country is on track to reach more than R1-trillion worth of investments over five years, despite Covid-19 disruptions
Advertising

Subscribers only

ANC: ‘We’re operating under conditions of anarchy’

In its latest policy documents, the ANC is self-critical and wants ‘consequence management’, yet it’s letting its members off the hook again

Q&A Sessions: ‘I think I was born way before my...

The chief executive of the Estate Agency Affairs Board and the deputy chair of the SABC board, shares her take on retrenchments at the public broadcaster and reveals why she hates horror movies

More top stories

DRC: Tshisekedi and Kabila fall out

The country’s governing coalition is under strain, which could lead to even more acrimony ahead

Editorial: Crocodile tears from the coalface

Pumping limited resources into a project that is predominantly meant to extend dirty coal energy in South Africa is not what local communities and the climate needs.

Klipgat residents left high and dry

Flushing toilets were installed in backyards in the North West, but they can’t be used because the sewage has nowhere to go

Nehawu leaders are ‘betraying us’

The accusation by a branch of the union comes after it withdrew from a parliamentary process
Advertising

press releases

Loading latest Press Releases…