The exchanges of the emerging markets bloc of Brazil, Russia, India and China are forming an alliance to help deepen their liquidity and offer investors pooled exposure to their markets.
This initiative was announced at the 51st AGM of the World Federation of Exchanges (WFE) in Johannesburg yesterday.
The initiative brings together BOVESPA from Brazil, MICEX from Russia (currently merging with RTS Stock Exchange), Hong Kong Exchanges and Clearing Limited and Johannesburg Stock Exchange (JSE) from South Africa. The National Stock Exchange of India (NSE) and the BSE Ltd (India) have signed letters of support and will join the alliance after finalising outstanding requirements.
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