BME wins Algerian tech modernisation mandate
15 February 2017 | 2755 views | 0
BME, in collaboration with AFI and ALMIS, has received a mandate to develop the "Project for the Modernisation of the Algerian Financial System", which consists of the analysis, design and implementation of IT platforms for the automation of the data systems of the institutions and market members.
The project is structured in two phases. The first one - which will be developed by BME in collaboration with AFI - covers the design and implementation of a platform for the automation of the data systems of financial market institutions, the Algerian Stock Exchange (SGBV), Algérie Clearing and COSOB (the Algerian supervisor).
The goal of the second phase is to implement - through its connection with the systems developed in the previous phase - an infrastructure dedicated to capital markets operations by state-owned banks and will be implemented by BME, ALMIS in collaboration with AFI.
It is expected that the development of this project will lead to the modernisation of the entire value chain of the Algerian stock market, a process that began in 2012 with the development by BME of an electronic platform for issuing and trading Public Debt and a website for market data. The platform began operating in December 2014.
María Parga Landa, BME Innova General Manager, said that this development "is a new example of the ability of the BME Group to offer advice and technological solutions to other countries, which are a reflection and consequence of BME’s potential for innovation at all levels".