Mauritian Exchange GBOT to Target Africa – Rebrands to BOURSE AFRICA
by
Adil Siddiqui
Mauritian financial derivatives exchange rebrands as it opens up new market opportunities across the continent. GBOT, the multi-asset exchange promoted by FT will rebrand as BOURSE AFRICA LIMITED as it attempts to serve the wider market.
Financial Technologies, a leading technology solutions provider to financial markets firms has been extending its global footprint through its consortium of trading venues. Its multi-asset exchange in Mauritius, GBOT, has reported that it will be rebranding as BOURSE AFRICA LIMITED (BOURSE AFRICA).
The move signals the exchange’s plans to serve the wider African market. Africa is home to over 1 billion people, with recent figures from the IMF showing GDP exceeding the formidable $2 trillion mark.
Mauritius's first cross-asset exchange, formerly known as Global Board of Trade Ltd., officially embraced its new name today. BOURSE AFRICA will be the first pan-African focused trading venue which aims to serve the needs of the growing African financial markets environment.
MD & CEO of BOURSE AFRICA, Mr. Rinsy Ansalam, commented in the official press briefing stating: “The decision to change the name from GBOT to BOURSE AFRICA is a representation of our absolute focus towards African Financial and commodity Markets. BOURSE AFRICA endeavors to provide market participants with an efficient market for Africa centric Risk Management, trading, investing and capital raising needs.”
Getting it right with listed CFDs
The Mauritian-based exchange was the second exchange to officially launch contracts for differences (CFDs). Since the launch, the exchange has been growing cumulatively with its benchmark gold contract outperforming other FX and metals contracts in the month of August.
The exchange traded a total of 123,823 contracts with total notional volumes reaching $583.5 million, the average daily turnover of $27.8 million.
Mr Rajesh Desai, Director of APAC Services Limited spoke about the performance of CFDs since their launch in a comment to Forex Magnates, saying: “The introduction of the much awaited Contract For Difference (CFD) products on BOURSE AFRICA LIMITED this year, has been welcomed by market participants in Africa and across the world with a soaring participation rate in terms of volume traded.
The reduced size of these products has made them more cost effective and thus more accessible to retail clientele. The response has been very positive as people are showing a lot of interest and are keen to get acquainted to trading on CFD products even though trading in derivative instruments is relatively new to Mauritius. I firmly believe that the scope of trading in CFD derivative instruments in Africa through BOURSE AFRICA LIMITED is promising.”
Still room for..
Although Africa has potential to become one of the best performing regions for economic growth, it still has a long way to go. Its banking and lending system require more investment and rulings that will provide services to both private individuals and small to medium size businesses. According to data from the World Bank 2012, average bank credit to the private sector represents no more than 15% of GDP in Africa; the same figure in developed economies crosses more than 100%.
BOURSE AFRICA can play a pivotal role in creating a uniform business environment for the African continent. Promising data from Zambia earlier this year with the launch of currency futures, which highlight the numerous possibilities on offer. The exchange expects new members to join, with applications in process from firms from South Africa, Ghana and Dubai as well established global players. The exchange has been in contact with neighboring exchanges in Kenya and Ghana.
Financial Technologies, a leading technology solutions provider to financial markets firms has been extending its global footprint through its consortium of trading venues. Its multi-asset exchange in Mauritius, GBOT, has reported that it will be rebranding as BOURSE AFRICA LIMITED (BOURSE AFRICA).
The move signals the exchange’s plans to serve the wider African market. Africa is home to over 1 billion people, with recent figures from the IMF showing GDP exceeding the formidable $2 trillion mark.
Mauritius's first cross-asset exchange, formerly known as Global Board of Trade Ltd., officially embraced its new name today. BOURSE AFRICA will be the first pan-African focused trading venue which aims to serve the needs of the growing African financial markets environment.
MD & CEO of BOURSE AFRICA, Mr. Rinsy Ansalam, commented in the official press briefing stating: “The decision to change the name from GBOT to BOURSE AFRICA is a representation of our absolute focus towards African Financial and commodity Markets. BOURSE AFRICA endeavors to provide market participants with an efficient market for Africa centric Risk Management, trading, investing and capital raising needs.”
Getting it right with listed CFDs
The Mauritian-based exchange was the second exchange to officially launch contracts for differences (CFDs). Since the launch, the exchange has been growing cumulatively with its benchmark gold contract outperforming other FX and metals contracts in the month of August.
The exchange traded a total of 123,823 contracts with total notional volumes reaching $583.5 million, the average daily turnover of $27.8 million.
Mr Rajesh Desai, Director of APAC Services Limited spoke about the performance of CFDs since their launch in a comment to Forex Magnates, saying: “The introduction of the much awaited Contract For Difference (CFD) products on BOURSE AFRICA LIMITED this year, has been welcomed by market participants in Africa and across the world with a soaring participation rate in terms of volume traded.
The reduced size of these products has made them more cost effective and thus more accessible to retail clientele. The response has been very positive as people are showing a lot of interest and are keen to get acquainted to trading on CFD products even though trading in derivative instruments is relatively new to Mauritius. I firmly believe that the scope of trading in CFD derivative instruments in Africa through BOURSE AFRICA LIMITED is promising.”
Still room for..
Although Africa has potential to become one of the best performing regions for economic growth, it still has a long way to go. Its banking and lending system require more investment and rulings that will provide services to both private individuals and small to medium size businesses. According to data from the World Bank 2012, average bank credit to the private sector represents no more than 15% of GDP in Africa; the same figure in developed economies crosses more than 100%.
BOURSE AFRICA can play a pivotal role in creating a uniform business environment for the African continent. Promising data from Zambia earlier this year with the launch of currency futures, which highlight the numerous possibilities on offer. The exchange expects new members to join, with applications in process from firms from South Africa, Ghana and Dubai as well established global players. The exchange has been in contact with neighboring exchanges in Kenya and Ghana.
EU Parliament Imposes €10,000 Cash Payment Limit in New Anti-money Laundering Legislation
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
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20-22 MAY 2024
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Looking to expand your network in #Africa?
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Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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