{"id":322813,"date":"2021-08-02T08:44:32","date_gmt":"2021-08-02T08:44:32","guid":{"rendered":"https:\/\/egy-africa.com\/en\/?p=322813"},"modified":"2021-08-02T08:44:32","modified_gmt":"2021-08-02T08:44:32","slug":"directfn-signs-contract-for-african-exchanges-linkage-project","status":"publish","type":"post","link":"https:\/\/egy-africa.com\/en\/2021\/08\/02\/directfn-signs-contract-for-african-exchanges-linkage-project\/","title":{"rendered":"DirectFN signs contract for African Exchanges Linkage Project"},"content":{"rendered":"<p>The African Securities Exchanges Association (ASEA) has signed a contract with\u00a0DirectFN to procure an order-routing system, in support of cross-border trading between African markets.<\/p>\n<div id=\"Outstream\"><\/div>\n<p>Seven of Africa\u2019s leading securities exchanges are working together in the African Exchanges Linkage Project (AELP) to boost pan-African investment flows and bring more liquidity to African markets.<\/p>\n<p>The contract is for the design and rollout of the AELP Link technology platform for routing orders and trade confirmations between stockbrokers on the seven exchanges participating in the pilot phase of the AELP, according to a press release by\u00a0ASEA, revealing that\u00a0DirectFN, a global IT firm experienced in capital markets solutions across the Middle East and many emerging and frontier markets,\u00a0was awarded the contract after a competitive bidding process that attracted applications from top international suppliers in 18 countries.<\/p>\n<p>The AELP exchanges are\u00a0the Egyptian Exchange, Casablanca Stock Exchange,\u00a0Johannesburg Stock Exchange, Nairobi Securities Exchange, Nigerian Exchange, the Stock Exchange of Mauritius, and Bourse R\u00e9gionale des Valeurs Mobili\u00e8res (BRVM), the stock exchange for the West African Economic and Monetary Union\u2019s eight West African countries.<\/p>\n<p>Investor orders in one market will be channelled by a domestic stockbroker through the AELP Link to a stockbroker on the foreign market where the security is listed, to enter into that market for execution in the foreign market. African listed securities to be accessed through the AELP Link include all securities that are available for cross-border investors.<\/p>\n<p>Equity investments available include Africa\u2019s most promising and profitable businesses as well as some global leaders among more than 1,050 companies listed. Investors will also buy or sell corporate and government bonds, exchange-traded funds (ETFs), and derivatives, listed on the participating exchanges and the sponsoring stockbroker provides access.<\/p>\n<p>\u201c<em>We are excited with this big step towards free movement of investments across Africa and free flow of capital. Our aim is to open new opportunities for individual and institutional investors to invest productively into Africa\u2019s growth story. The Exchanges continue to support African enterprises and governments to raise long-term capital for African jobs, business growth, infrastructure and development<\/em>,&#8221;\u00a0said<strong>\u00a0Dr\u00a0Felix Edoh Kossi Amenounv\u00e9, President of ASEA and CEO of\u00a0BRVM<\/strong>.<\/p>\n<p>Meanwhile, <strong>Dr\u00a0Walid Al Ballaa<\/strong>, <strong>Managing Director\u00a0of DirectFN<\/strong>, said: \u201c<em>With innovative technology and focus to bring digital maturity in building digital relationships through the AELP-Link technology platform establishment, DirectFN feels equally excited to assist practically in realizing the goals across the participating African Exchanges and to enable the African capital market ecosystem digitally to create a positive impact on the overall economy<\/em>.\u201d<\/p>\n<p>The AELP is a joint initiative by ASEA and the African Development Bank (AfDB) that aims\u00a0at unlocking pan-African investment flows, promoting innovations that support diversification for investors, and addressing depth and liquidity in the markets. It is funded by a grant from the Korea-Africa Economic Cooperation (KOAFEC) Trust Fund managed by the AfDB.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The African Securities Exchanges Association (ASEA) has signed a contract with\u00a0DirectFN to procure an order-routing system, in support of cross-border trading between African markets.<\/p>\n","protected":false},"author":4,"featured_media":322814,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[33,21],"tags":[],"class_list":["post-322813","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-main","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>DirectFN signs contract for African Exchanges Linkage Project - egy-africa<\/title>\n<meta name=\"description\" content=\"The African Securities Exchanges Association (ASEA) has signed a contract with\u00a0DirectFN to procure an order-routing system, in support of cross-border trading between African markets.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/egy-africa.com\/en\/2021\/08\/02\/directfn-signs-contract-for-african-exchanges-linkage-project\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"DirectFN signs contract for African Exchanges Linkage Project - 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