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Cape Verde Stock Exchange to cooperate with Euronext
Tuesday, 03 July 2012 21:40   PDFPrint E-mail

The Cape Verde Stock Exchange and its Portuguese counterpart Euronext Lisboa will sign a partnership protocol this Tuesday, July 3, in a ceremony set to take place at the Portuguese stock exchange building. The accord comes shortly after Cape Verde Stock Exchange president Manuel Lima participated in a business retreat in the Portuguese city of Évora.

The protocol is founded on the need for the internationalization of the Cape Verdean securities market, which will not only widen the freedom of choice of investors and intermediaries, but also favor the diversification of investments in the country.

As markets are dynamic and financial innovation is a permanent, ongoing process, the Cape Verde Stock Exchange and Euronext understand that the first area to which priority should be given is knowledge and experience transfer, after which the cooperation program could be expanded to other areas, namely capital leveraging of listed issues and the provision of pre-trading and post-trading services.

The protocol regulates and establishes the principles and objectives through which the two institutes will guide themselves in order to achieve a partnership that brings benefits to both sides. This will take place, for example, by way of training to be administered to the professionals working in Cape Verde’s financial system and businesses.

On June 21 and 22, the president of the Cape Verde Stock Exchange participated in a business retreat in the Portuguese city of Évora, an event organized by Euronext aimed at officials at small and mid-sized Portuguese businesses. The retreat was used to discuss aspects of admission to and maintenance in the stock exchange and, according to Lima, “provided a convergence of development solutions and sustainable financing alternatives for these businesses.”