West Africa Bourse to Switch to Real-Time Trading This Month
West Africa’s regional stock market said it will switch to real-time trading and extend opening hours on Sept. 16.
The Bourse Regionale des Valeurs Mobilieres, or BRVM, will trade from 9 a.m. to 2.30 p.m. compared with its current hours of 8.30 a.m. to 10.30 a.m., Amadou Tidiane Bah, director of operations at the exchange that’s based in Abidjan, Ivory Coast commercial capital, said in an e-mailed response to questions.
The move will “favor a bigger amount of exchanges” as it will give more “buying and selling opportunities” to market participants, the exchange said in a statement.
The 39-member BRVM has climbed 22 percent this year, outstripping the 8.3 percent increase in the Morgan Stanley Frontier Market index over the same period. The BVRM serves Benin, Ivory Coast, Niger, Mali, Togo, Guinea Bissau, Burkina Faso and Senegal. France Telecom SA’s Senegalese unit, Sonatel, is the biggest company on the exchange and has a market value of 1.8 trillion CFA francs ($3.6 billion).
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