The exchange will introduce futures on the SEM-7 index, a gauge of the seven biggest companies traded on the exchange and some of the most liquid stocks, Sunil Benimadhu, its chief executive officer, said in an interview today.
We want to provide investors with more variety of products and this will open the door for the creation of new products, Benimadhu said. Over time, we also expect this product to boost liquidity.
Mauritius Telekom Ltd., which provides fixed-line and mobile services on the Indian ocean archipelago, may start trading shares on the exchange this year, Benimadhu said.
The listing is on the cards, has been talked about at government level and is expected this year, but we have not yet received an application from the company, he said.
The stock exchange was founded in 1989 and shares of 38 companies with a total market value of about $4.82 billion are traded on its Official Market, according to the bourses Web site. A further 49 companies with a total value of $1.55 billion are traded on its Development & Enterprise Market.
The members of the Sem-7 index are Mauritius Commercial Bank Ltd., State Bank of Mauritius Ltd., New Mauritius Hotels Ltd., Rogers & Co., Sun Resorts Ltd., Omnicane Ltd. and Naiade Resorts Ltd.
The JSE Ltd. operates the South African Futures Exchange, the biggest futures exchange in Africa.
To contact the reporter on this story: Janice Kew in Johannesburg at [email protected].