JSE and FTSE to develop African indices

JSE and FTSE to develop African indices

The JSE Securities Exchange (JSE) has signed an agreement with FTSE to provide internationally recognised index products for the domestic and African financial markets.

Under the agreement, an enhanced and expanded index series, to be named the FTSE/JSE Africa series, will be developed for South African and African investors. FTSE and the JSE are to undertake a review of the existing JSE equity and derivative indices, with an objective of bringing them in line with international investment standards. The review process is expected to be completed by the end of 2001.

An advisory committee will be appointed to oversee the introduction and management of the FTSE/JSE Africa series, to be chaired by Anton Botha, chairman of Gensec Bank Limited.

Russell Loubser, CEO of JSE says the agreement marks another towards the implementation of the JSE’s vision of providing a "Gateway" integrating Southern Africa into global financial markets. In line with this ambition, the JSE recently signed a deal with the London Stock Exchange to implement the Sets order trading system.

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