NYSE Euronext And The Cape Verde Stock Exchange Sign Cooperation Agreement
Today, NYSE Euronext (NYX) announced the signature of a cooperation and partnership agreement with the Cape Verde Stock Exchange (BVCV) through its subsidiary Euronext Lisbon.
Within the scope of this agreement, NYSE Euronext in cooperation with BVCV will support the development of the capital market in Cape Verde. Amongst other activities, it involves training delivered by Euronext Lisbon as well as receiving BVCV representatives in events either organised or sponsored by the Portuguese Stock Exchange.
Similarly, the agreement foresees the Portuguese Stock Exchange participating in events organised or sponsored by BVCV concerning African countries. The agreement also sets guidelines for future efforts geared towards joint operations. Advantageous to both Portugal and Cape Verde’s capital markets, the aim is to provide higher liquidity into listed securities’ trading, to identify potential synergies and to bring added visibility to listed Portuguese and Cape Verdean companies.
Luís Laginha de Sousa, Chairman and CEO of Euronext Lisbon underlined: “Attentive to the historical and linguistic links between Cape Verde and the European Union, NYSE Euronext Lisbon and the Cape Verde Stock Exchange are in a privileged position to identify and promote ways for their markets to come together.” He went on to add: “This agreement formalises and increases an already long tradition of collaboration between the Portuguese Stock Exchange and its Cape Verdean counterpart. Our aim is to prioritise sharing knowledge and experience with, possibly at a later date, extending this collaboration into other areas“.
Manuel Joaquim Lima, Chairman of Cabo Verde Stock Exchange (BVCV) added: “This agreement is the result of a natural development of the historical relationship between Portugal and Cape Verde, in the context of the Special Partnership between Cape Verde and the European Union, between its stock exchanges . It paves the way for a lasting partnership in the capital markets, beneficial for both countries and its economic agents. Moreover, it also means a new more integrated and shared vision of the Stock Exchange activities, for the benefit of its development and institutional consolidation.”