The World Federation of Exchanges opened its ranks to The Stock Exchange of Mauritius (SEM) at the 45th General Assembly and Annual Meeting of the WFE held in Mumbai in November.
The WFE, formerly “Fdration Internationale des Bourses de Valeurs” (FIBV), is a central reference point and standards setter for exchanges and the securities industry in the world.
The purpose of the Federation is to promote the development of well-organized and well-regulated markets and maintain a worldwide platform where exchange industry professionals can discuss issues of common interest to address the needs of evolving capital markets.
Membership status of the WFE requires its members to pass stringent standards and market principles established by the WFE. Membership identifies the SEM as having assumed the commitment to prescribed business standards, recognized as such by users of exchanges, as well as by regulators and supervisory bodies.
The Mauritius exchange’s membership will also enable the SEM to attract investments from institutional investors who are restricted by law to dealing only on WFE member exchanges when purchasing securities outside their home country.