The World Federation of Exchanges (WFE) has formalized the membership of the Tunis Stock Exchange as a full member, at its 58th Annual General Meeting held in Athens, on October 3rd, 2018.
After Correspondent and Affiliate statuses, Membership status marks the completion of a long process and a on-site peer review carried out by a team comprised of Nasdaq, Shanghai Stock Exchange and Bermuda Stock Exchange representatives in February 2018, that led to a positive report to the Board of Directors of the WFE meeting in June 2018.
This evaluation confirmed that the Stock Exchange, the Regulator, the Central Depository and other stakeholders of the Tunisian financial market meet the main WFE standards and requirements in terms of compliance with market principles, efficiency and governance issues. These standards cover topics as diverse as market organization, equal market access, admission to negotiations, negotiations, custody, supervision, conflict resolution, complaint handling….
After the recent improvements in the assessment of Tunisia by MSCI and FTSE, the WFE member status, granted to the Tunis Stock Exchange, will strengthen the visibility of the country and listed companies on the Tunis Stock Exchange to foreign investors, including institutionals.
According to WFE, for the exchange industry to perform its macroeconomic role, it must meet the high standards set by the market’s commercial needs and adhere to the best practices and standards set by local and global authorities competent in the financial services industry.
WFE and its members support an orderly, secure, fair and transparent environment for investors; for companies that raise capital; and for all who deal with financial risk.