Citdex and Stock Exchange of Mauritius launch digital stock exchange
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Citdex and Stock Exchange of Mauritius launch digital stock exchange 07 May 2019Port Louis Reporter: Jenna Lomax
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Citdex Corporation (Citdex), and the Stock Exchange of Mauritius as well as the Central Depository and Settlement Co (CDS) are to launch a digital stock exchange of Mauritius (DSXEM) and a digital central depository system.
The initiative is part of an effort to develop a global digital capital markets and digital securities custodian services in Mauritius.
This partnership will allow DSXEM to host financial assets with traditional characteristics as digital securities, using distributed ledger technology.
The partnership will provide issuers with a new solution to access capital, and will offer investors regulated, liquid and transparent institutional-grade digital securities.
Sunil Benimadhu, chief executive of the Stock Exchange of Mauritius and Vipin Mahabirsingh, managing director of CDS said: "Mauritius is well positioned to offer a well-regulated and pragmatic framework to issue, trade, and settle digital securities for both retail and institutional investors.”
He added: “We anticipate that digital security offerings will have a positive impact on the development of new business opportunities in our financial services sector, harness economic growth and stimulate technological innovation in Mauritius.”
Chris Cutler and Victoria Saucier, managing directors at Citdex, commented: "We are very excited to be part of the growing digital securities ecosystem. We see the DSXEM leading the adoption of regulatory compliant digital securities investments and capital formation.”
They added: “We are particularly pleased to partner with the regulatory authorities in Mauritius to pursue this joint effort, whose goal is to bring the digital securities ecosystem into the mainstream of global capital markets within a regulation-compliant framework."
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