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Emerging Market Exchanges To Cross-List
Six emerging market stock exchanges have joined hands to cross-list each other’s stock index futures and index options contracts.
Six emerging market stock exchanges have joined hands to cross-list each other’s stock index futures and index options contracts, Financial Times reports. The six bourses that have agreed to the alliance include the Hong Kong Exchanges and Clearing, BM&F Bovespa of Brazil, the National Stock Exchange of India, the Bombay Stock Exchange, Johannesburg Stock Exchange and the two Russian exchanges that are in the process of merging, Micex and RTS.
The cross-listed contracts would be listed on each bourse in the local currency of that exchange, it was announced at the meeting of the World Federation of Exchanges in South Africa. The agreement is aimed at leveraging interest in the emerging markets. The cross-listing would start in the first half of 2012, adds The Wall Street Journal.
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