(3 Minutes Read)
The securities exchange sector in Seychelles is planning to gain recognition on a global scale—Seychelles’ MERJ Exchange to apply for membership in the World Federation of Exchanges. The MERJ group of companies collectively operates a Seychelles securities exchange, clearing agency, securities settlement system, securities depository, and registry.
At the end of 2023, the exchange had 31 securities listed including local companies such as SACOS, Cable and Wireless, Trois Freres Distilleries (Takamaka Rum), etc, MERJ plans on making a full membership application to the World Federation of Exchanges and an application for recognition by the US Securities and Exchange Commission as a Designated Offshore Securities Market, both of which would enhance the status and accessibility of the exchange to a global audience.
MERJ Exchange intends to collaborate more with its existing partners to launch new products, the exchange also wants to make certain changes to its IT infrastructure and enhance the regulatory framework to accommodate more products and improve clarity, said. he managing director of MERJ CLEAR and MERJ DEP, Bobby Brantley. He further adds that they will also be “pursuing additional recognitions and memberships with other countries and international organisations and are making progress with these plans. For example, the exchange is also planning to launch an innovative new solution to enhance the prospects for liquidity of products listed on our upstream market called market pools. MERJ staff have been working on updates to the regulatory framework starting with the listing rules.
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Apart from going global, Brantley said they also have several plans in place to be more innovative and modern. MERJ used to be known as Trop-X. In 2011, it was rebranded to MERJ Exchange.
