NAIROBI SECURITIES EXCHANGE BECOMES A FULL MEMBER OF THE WORLD FEDERATION OF EXCHANGES
February 02, 2018: Nairobi Securities Exchange (NSE) today announced that it received admission as a full member of the World Federation of Exchanges (WFE) after the Federation’s board met in Frankfurt and unanimously approved NSE’s application. The WFE hosts global leaders of the capital markets industry such as the Intercontinental Exchange, the London Stock Exchange Group and the Australian Securities Exchange among others.
The Exchange’s full membership to the Federation follows a rigorous evaluation process conducted by members of the WFE, which culminated with an onsite-inspection of the NSE led by the Chief Executive of the WFE, Ms. Nandini Sukumar, in late 2017. During the inspection the review team interacted with various key players in the Kenyan capital markets ecosystem including stock brokers, investment banks, large issuers and the Capital Markets Authority of Kenya.
As a Full Member of the WFE, the NSE will participate in major decision making forums on policy and regulatory matters pertaining to the global capital markets. Additionally, the Exchange will benefit from the rich interactions that the WFE offers – exclusively to its global membership, with a view to promoting the development of the NSE’s business and operations.
“Our admission as a full member of the WFE marks a great milestone in the growth of our market, and is in line with our strategy to support a vibrant capital market in Kenya. This is a positive step towards our integration with global financial markets and reflects the Exchange’s commitment to implementing the highest standards of international best practices. The WFE membership further entrenches our vision to be a leading Securities Exchange in Africa, with a global reach.” said Mr. Geoffrey Odundo, the Chief Executive of NSE.
Speaking on the announcement Ms. Nandini Sukumar, Chief Executive, WFE noted, “We are delighted to have the NSE join the WFE as the 6th African Exchange, joining the Egyptian, Nigerian, Johannesburg, Casablanca and Mauritius Stock Exchanges as well as other leading Exchanges around the world in promoting the development of fair, transparent, stable and efficient markets.”