The New York Stock Exchange (NYSE), a subsidiary of Intercontinental Exchange, and the Johannesburg Stock Exchange (JSE) announced a Memorandum of Understanding (MoU) to collaborate on the dual listing of companies on both exchanges. The NYSE and the JSE also agreed to collaborate on the development of new products and the sharing of knowledge related to ESG, ETFs, and digital assets.
“The New York Stock Exchange is pleased to sign this collaboration agreement with the Johannesburg Stock Exchange in support of our two markets”, said Lynn Martin, President of the NYSE. “Exploring the dual listing of companies on our two exchanges has the potential to expand opportunities for investors on both continents, highlighting the value that public companies and our capital markets generate in the global economy. We look forward to working with the JSE team on new product development and the innovation that results from two great organizations collaborating.”
“The agreement that we have signed today with the NYSE will unlock opportunities for investors and issuers of both bourses,” says Leila Fourie, Group CEO of the JSE. “This is the start of a new chapter, and I am looking forward to the opportunities we will explore together as we seek synergies to grow both of our markets. As the African continent’s largest stock exchange, with unparalleled market depth and liquidity, the JSE aims to create world-class solutions for both local and international investors.”
The United States is one of South Africa’s largest trading partners, and this agreement is intended to strengthen the two countries economic relationship. Approximately 600 US companies now operate in South Africa in industries such as manufacturing, technology, finance, insurance, and wholesale trade.