STOCKHOLM, Sweden and ABIDJAN, Côte d’Ivoire, March 06, 2019 (GLOBE NEWSWIRE) -- Nasdaq and Bourse Régionale des Valeurs Mobilières (BRVM) have signed a new agreement for Nasdaq to deliver market surveillance technology (SMARTS) to BRVM. BRVM is one of the world’s most integrated supranational organizations. It connects eight West African markets, which leverage a single common exchange, currency, central bank and language. BRVM will implement Nasdaq’s surveillance technology to monitor cross-market and cross-asset trading activity.
“We are delighted to begin this new relationship with Nasdaq by utilizing its world renowned market surveillance technology,” said Felix Amenounvé, Chief Executive Officer, BRVM. “During the last 24 months, we have undertaken numerous and vigorous steps to revamp our market and increase investment opportunities across the West Africa member states. BRVM looks to execute on our strategy for growth throughout 2019, in particular by seeking opportunities to leverage new technologies to create an even stronger, healthier capital market in our unique region.”
“Implementing an industry benchmark solution for surveillance is vital for ensuring a safe and transparent trading environment across multiple markets that constitute BRVM,” said James Martin, Regional Manager, EMEA, Market Technology, Nasdaq. “As Abidjan continues to strengthen itself as an important financial capital in Africa, it leads by implementing international best practices and market compliance standards. Further, this new technology agreement with Nasdaq gives a clear signal to Africa’s financial community that BRVM is dedicated to taking its markets to the next level.”
Nasdaq's market technology powers more than 250 of the world's market infrastructure organizations and market participants, including broker-dealers, exchanges, clearinghouses, central securities depositories and regulators, in over 50 countries with end-to-end, mission-critical technology solutions.
The Regional Stock Exchange (BRVM – Bourse Régionale des Valeurs Mobilières) was created on December 18th, 1996 in Cotonou (BENIN). It is a fully integrated electronic exchange with 8 member countries from West Africa: Benin, Burkina Faso, Côte d'Ivoire, Guinea-Bissau, Mali, Niger, Senegal and Togo. In addition to Equity instruments (shares), the BRVM offers the issuing and trading of Debt instruments (bonds).
The BRVM offers to investors a world-class trading environment with state-of-the-art trading and settlement systems. BRVM holds the Vice-presidency of the Executive Committee of the African Securities Exchanges Association (ASEA) and is member of the West African Capital Markets Integration Council (WACMIC). Since November 2016, it has been included in the MSCI Frontier Markets Index.
To learn more, visit : www.brvm.org.
Nasdaq (Nasdaq: NDAQ) is a leading global provider of trading, clearing, exchange technology, listing, information and public company services. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today's global capital markets. As the creator of the world's first electronic stock market, its technology powers more than 100 marketplaces in 50 countries, and 1 in 10 of the world's securities transactions. Nasdaq is home to approximately 4,000 total listings with a market value of approximately $15 trillion. To learn more, visit: http://business.nasdaq.com.
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