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Automated trading system in Mauritius stock exchange to help introduce new products and services
The Stock Exchange of Mauritius (SEM) launched a new automated trading system to position itself as an attractive multi-currency listing platform. The eagerly awaited launch took place in the capital city, Port Louis. The exchange will offer sophisticated products and services to domestic and international investors.
The Middle-Income Country Technical Assistance Fund, a special wing of the African Development Bank (AfDB), contributed US$600,000 in grant for the upgrade, while the automated system was developed by Securities and Trading Technology Ltd of South Africa.
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The automated system will help Investors to trade numerous assets via web browsers. A mobile application called mySEM is a new feature of the exchange. The project is designed to integrate services, such as data distribution, remote deal brokering, custodian banking, and trading in various asset classes including derivatives. It also has a state-of-the-art surveillance system that will enhance real-time monitoring of market activities to raise alerts upon market abuse or irregular trading practices.
The launch of the new trading engine is a landmark step towards the strategic positioning of the Stock Exchange of Mauritius as a world-class international exchange. It is also an attractive multi-currency capital-raising and listing platform for local, Africa-focused, and niche international products.” This project is expected to contribute to diversifying investments on the Stock Exchange of Mauritius. It will promote access to long-term local currency financing for small and medium enterprises and the real sector in Mauritius through capital markets.
