The NYSE and the JSE this week signed a memorandum of understanding to collaborate on the dual listing of companies on both exchanges, as well as to jointly explore the development of new products and share knowledge around environmental, social and governance, exchange-traded funds and digital assets.

“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,” says NYSE president Lynn Martin.

“Exploring the dual listings of companies on our two exchanges stands to increase opportunities for investors on both continents, underscoring the value public companies and our capital markets generate in the global economy.

“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,” she notes.

“The agreement that we have signed . . . 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 both our markets. For the JSE, as the largest stock exchange on the African continent, we aim to create world-class solutions for both local and international investors,” comments JSE Group CEO Dr Leila Fourie.

The US is one of South Africa’s largest trading partners and this agreement is designed to help support the economic relationship between the two nations. About 600 US companies operate in South Africa in sectors including manufacturing, technology, finance, insurance and wholesale trade.

A number of large mining companies are also listed on each of the two bourses, with some dual-listed on both exchanges.

The agreement was finalised during a visit to the NYSE by a South African delegation on October 10 including Fourie and South African Reserve Bank governor Lesetja Kganyago.