Exchange news

Exchange news

JSE breaks 3 records for numbers of trades in global market volatility

Volatility and increased uncertainty in global markets last week meant extra demands for huge trading volumes on world markets. South Africa’s JSE Ltd. handled the increased action and it broke three trading records with record numbers of trades first on Wednesday and then again on Friday. At least one leading US exchange had some error trades last week.

Exchange news

Nigeria’s SEC publishes new rules

Nigeria’s Securities and Exchange Commission (SEC) has new rules, according to local press. The new rules, signed by Director General Ms Arunma Oteh, became effective from 1 April

Exchange news

Somali pirates stock exchange finances sea ventures

Inside the Somali pirates stock exchange, where their voyages are financed (and missing pirates mourned). An interesting story by Reuters.

Exchange news

JSE to offer “Dark Pool” for very large trades

South Africa’s JSE Ltd this week announced that it was close to creating Africa’s first “dark pool” for trading large orders. These are structures that allow bidders to post and transact very large orders or block orders without disrupting the market, for instance prices and volumes may not be revealed publicly before the trade but only get posted after the event.

Exchange news

“Regulation stops SA from being centre for Africa’s mining finance”

South Africa could be the centre of mining finance for Africa, according to Mick Davis, CEO of international mining company Xstrata, as reported in the local Business Day newspaper. However, he is reported to have told a business school audience that restrictions by the JSE Ltd stock exchange and remaining exchange controls made this almost impossible to achieve.

Exchange news

AltX companies struggle to attract investors

Companies on Johannesburg’s Alternative Stock Exchange (AltX), a division of the JSE Ltd (www.jse.co.za), continue to struggle to attract sufficient mainstream attention. However, at a recent conference, one fund manager told them to concentrate on running their companies well and not to watch the share price continuously.

Exchange news

Kenya aims for 25-year Treasury bond

Kenya’s Government says it will float the first 25-year bond since the 1960s, as part an initiative to help financial institutions offer long-term debt products such as mortgages and project finance

Exchange news

Nigerian Stock Exchange – who will be the next CEO?

Nigerian media has been writing about the succession of acclaimed Prof. Ndi Okereke-Onyiuke, set to withdraw as Director General and Chief Executive Officer of the Nigerian Stock Exchange in November 2010. She had pledged to stand down several times, linked to a planned demutualisation for the NSE.

Exchange news

African securities markets – shock move to integrated trading pool

Fears of the potential impact of IT disruption on African capital markets, combined with a long-running initiative to pool fragmented markets for more liquidity, led to a shock decision by the African markets association today to switch to a single African market platform at short notice.

Ethiopia

Bond market coming to Ethiopia, and experts review T-Bills

Ethiopia may soon have corporate bonds, paving the way to a bond market, according to a press conference last week by Prime Minister Meles Zenawi. According to a report in the respected Fortune weekly newspaper, the Prime Minister told media on 18 March that state-owned enterprises would start issuing bonds

Exchange news

Angolan Stock Exchange “in next 12 months”

All the frameworks are in place for an Angolan stock exchange, and a first listing and official launch could be expected in the current year, 2010, says former Finance Minister José Pedro de Morais, Jr, who is closely involved n the board of the future bourse.

Exchange news

Mauritius introduces new instruments and lists funds as traders get active

Sunil Benimadhu, Chief Executive Officer of the Stock Exchange of Mauritius: The Mauritius market lost 50% in, as investors worried about the fallout of the …

Exchange news

COSSE’s hub and spoke model

Sunil Benimadhu, Chief Executive Officer of the Stock Exchange of Mauritius: We have had lots of discussion on how to link different markets. Lots of …

Exchange news

Angolan stock market within 12 months

Eduardo Vieira, President of Angolan stockbroker Novacao Corretora de Valores As the former minister has said, we strongly anticipate that there will be a stock …

Exchange news

Kenya’s bond trading developing fast

Andre DeSimone, Kestrel Capital stockbroker, Nairobi The Nairobi capital market has seen a lot of volatility and many local institutions pulled out. At one point, …

Exchange news

LIVE FROM SECURITIES AFRICA/CITIGROUP CONFERENCE

We are blogging LIVE from the 5th Annual African Investment Conference, organized by stockbroker Securities Africa and Citigroup. This brings to London a lot of the top listed companies, and gives them chances for a series of one-to-one meetings with institutional and other investors.

Ethiopia

NSE to launch commodity exchange “by June”

The Nairobi Stock Exchange (www.nse.co.ke) has set mid-2010 as the target to launch a commodities exchange. It will be a joint effort by the National Cereals Produce Board (www.ncpb.co.ke), the Kenya Agricultural Commodities Exchange (www.kacekenya.com), Eastern African Grain Council (www.eagc.org) and NSE.

Capital raising

Results of Uganda’s NIC privatisation share offer

Uganda’s National Insurance Corporation (www.nic.co.ug), was oversubscribed after Uganda Shilling (UGX) 9.5 billion (US$4.6 million came in applications when Government offered its remaining 40% stake in the company in an 161,552,000 shares totalling UGX 7.2 bln.

Exchange news

Botswana finished $722 mln bonds issuance

The Government of Botswana has ended its P5 billion (US$722 million) bond issuance programme with an oversubscribed auction by the Bank of Botswana last Friday, 5 March, including introducing a 15-year bond.

Exchange news

Nairobi SE members approve demutualization

The members and directors of the Nairobi Stock Exchange (www.nse.co.ke) have approved the demutualization of the Nairobi Stock Exchange, subject to enactment of requisite laws that will provide the legal framework.