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Financial Technologies launches Mauritius bourse

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Trading on GBOT's electronic platform will go live from October 18

"The new exchange will be instrumental in unifying the fragmented African financial markets and in bringing the world to Africa and its potential to the world," Vice-Chairman GBOT and Chairman Financial Technologies Group Jignesh Shah said in a press statement.

"GBOT has the advantage of having Financial Technologies India as the parent company...GBOT adds depth to our domestic financial markets," the Prime Minister of the Republic of Mauritius Navinchandra Ramgoolam said at the launch.

Its list of members and partners include State Bank of India (Mauritius), Barclays Bank, Bank One, Arab Global, One Financial, Afrasia Bank, Mauritius Commercial Bank, Banque des Mascareignes and Bramer Banking Corporation and media corporations Bloomberg and Thomson Reuters.

"GBOT is bringing new impetus to investment from traditional and new players, whilst showcasing the African region's ability to harbour, to nurture and to benefit from, an exchange of such magnitude," GBOT MD and CEO Joseph Bosco said.

GBOT is also the member of industry associations such as Association of Futures Markets (AFM), Futures and Options Association (FOA), Swiss Futures and Options Association (SFOA), and Defra EU Emissions Trading Scheme (EU ETS).

The bourse is promoted by the Financial Technologies Group, a global firm which sets-up and operates exchanges in emerging markets.

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