The Stock Exchange of Mauritius (SEM) which operates two markets, the Official Market and the Development & Enterprise Market (DEM) announced that the trading hours of both markets will be extended by one hour as from the 12th of June 2018.
Since the implementation of SEM’s Automated Trading System (SEMATS) in 2001, there has been a gradual extension of the trading hours of both markets to respond to market demand and to improve SEM’s services to both local and foreign investors.
The proposed extension will enable foreign investors in different time zones to have extended real-time access to SEM's platform, improve their trading opportunities and potentially enhance liquidity. It also constitutes an important step towards creating the conducive environment for full day trading in the near future, in line with the practice in developed markets.
The new Trading Schedule as from the 12th of June 2018, is as follows (GMT+4):
Trading Sessions Official Market DEM Debt Board
Pre-Opening 9.00 a.m to 10.00 a.m -
Opening 10.00 a.m 10.00 a.m
Continuous 10.00 a.m to 2.30 p.m 10.00 a.m to 2.30 p.m
Closing 2.30 p.m 2.30 p.m
The publication of the daily Market Information Sheet for the Official Market and the DEM shall be at 3.45 p.m.
On 12 June 2018, in line with its strategy to digitalise its services, SEM launched the mySEM mobile app, available for free download on PlayStore for Android users and App Store for iOS users for mobile devices.
The mySEM mobile app aims at empowering local and foreign investors to follow the market in real-time, seize market opportunities and trade in real-time. mySEM provides investors seamless access to a wide variety of key listed company data in real time, including company specific order books, highs and lows, five best bids and five best asks, and other relevant company-specific data.
The mySEM mobile app also allows investors to have online access to their CDS accounts to monitor their account activity and account status. In addition to mobile devices, the mySEM application also runs on desktop and web platforms and can be accessed using any browser.
The launch of mySEM relates to a number of initiatives implemented by the SEM in recent months to improve its services to its stakeholders, facilitate market access to local and international investors, attract new investors to its platform and improve market liquidity.
The Stock Exchange of Mauritius was founded in 1989 in Port St-Louis. It is the only Exchange in Africa and one of the rare Exchanges in the world to possess since 2011, a multi-currency listing and trading technology platform, which is also open for dual-currency trading and can list, trade and settle equity and debt products in USD, EUR, GBP, ZAR besides the local currency MUR.
The SEM was opened to foreign investors in 1994 following the abolition of exchange controls. Local investors account for about 55 % of the daily trading activities, and foreign investors account for the 45 % remaining. 75 % of that local volume is generated by institutions like mutual funds, pension funds and insurance companies.
The SEM is a founding member of the African Stock Exchange Association (ASEA) and a member of the World Federation of Exchanges.