BRVM: CGF Bourse, the second SGI authorized to exercise online trading activity

After the management and intermediation company (SGI) BOA Capital Securities, the Regional Council for Public Savings and Financial Markets (CREPMF), through its decision N ° CREPMF / 2020/183 signed on September 17, 2020 by its president Mamadou Ndiaye, authorized the Senegalese SGI CGF Bourse to exercise the activity of online stock exchange on the regional financial market of the West African Monetary Union (WAMU).
The Online Stock Exchange service was officially launched on September 16, 2020 by Stock Exchange officials
Régionale des Valeurs Mobilières (BRVM) with the managers of SGI BOA Capital Securities, following the 2014-2021 strategic plan of the regional financial market. Concretely, the online trading activity consists, for the BRVM, in providing SGIs with a technological platform allowing the automatic transmission of stock market orders.
Through this mechanism, the BRVM authorities aim to achieve three main objectives, which are improving market liquidity, improving order execution times and lowering transaction costs.
At the end of article 3 of the CREPMF authorization, « SGI CGF Bourse must, in the context of its online trading activities, strictly comply with the regulations in force on the regional financial market of the UMOA. « The approval decision took effect upon signature.

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