The Algiers Stock Exchange (Bourse d’Alger) is set to launch electronic trading for stocks and bonds before the end of December, according to an announcement made Wednesday in Algiers. Youssef Bouzenada, Chairman of the Commission for the Organization and Supervision of Stock Exchange Operations (COSOB), stated that the new system will enhance transparency and accelerate transaction execution.
Speaking at a national technical meeting with various financial market participants, Bouzenada emphasized that the national financial market is now unified and ready for this transition. He highlighted that the modern legal and regulatory framework is in place to support the digitization of buy and sell orders for stocks and bonds. The launch of this electronic system is considered a fundamental step in modernizing the market.
Bouzenada underscored the importance of engaging with economic institutions of all sizes (small, medium, and large) to showcase the benefits of direct financing through the stock exchange. He emphasized the opportunities for growth, expansion, and increased transparency that these mechanisms offer. He also noted the importance of elevating the financial market from a secondary role to a pivotal one in economic development, a transition that requires effective market participants, innovative market institutions, and the trust of companies and investors.
Reviewing key milestones for the financial market since 2023, Bouzenada mentioned the launch of the general stock exchange system, which modernized the regulatory framework for market activity. He also discussed the organization of remote voting in general assemblies, which strengthened investor rights and corporate governance, as well as the new system for investment fund activity, which allowed for the integration of more advanced financing tools.
The meeting, organized by COSOB in coordination with the Algiers Stock Exchange and ‘Algeria Clearing’, aims to enhance the performance of financial market participants and develop their intervention mechanisms. This initiative seeks to support companies and investors, increase market liquidity, and establish a roadmap for the next phase, ensuring its implementation and overcoming challenges. The goal is to bolster investor confidence and attract new listings. Increased accessibility is expected to drive market growth.
