The New York Stock Exchange (NYSE) and the Johannesburg Stock Exchange (JSE) have signed a memorandum of understanding to collaborate on the dual listing of companies on both exchanges.
The NYSE and the JSE also agreed to explore developing new products and share knowledge around ESG, ETFs, and digital assets.
The agreement was finalized during a visit to the NYSE by a South African delegation, including JSE Group CEO Leila Fourie and South African Reserve Bank Governor Lesetja Kganyago.
The signing ceremony took place shortly before the delegation rang the Closing Bell, followed by a keynote address by Kganyago on monetary policy.
“The NYSE is pleased to sign this collaboration agreement with the JSE in support of the important economic and trade relationship between our two markets,” said Lynn Martin, NYSE President.
She said exploring the dual listings of companies on the two exchanges stands to increase opportunities for investors on both continents.
“It also underscores the value public companies, and our capital markets, generate in the global economy,” she said.
“We look forward to collaborating on new product development with the JSE team and to the innovation that comes when two great organizations work together.”
Fourie said the agreement with the NYSE will unlock opportunities for investors and issuers of both bourses.
“This is the beginning of a new chapter, and I am excited about the opportunities we will explore together as we find synergies to grow our markets,” she said.
“For the JSE, the largest stock exchange in Africa, we aim to create world-class solutions for local and international investors.”
The United States ranks as one of South Africa’s largest trading partners, and this agreement is designed to help support the economic relationship between the two nations.
Today, about 600 U.S. companies operate in South Africa in the manufacturing, technology, finance, insurance, and wholesale trade sectors.