African Exchanges Linkage Project
The African Exchanges Linkage Project (AELP) is a flagship project of the African Securities
Exchanges Association (ASEA) and the African Development Bank (AfDB) to facilitate cross-border
trading of securities in Africa.
In its initial phase, the Project aims to create linkages between 7 African capital markets that
represent >90% of Africa’s market capitalization.
Improve depth and liquidity on Africa’s capital markets
AELP will foster investment flows among the participating Exchanges by enabling:
• Cross-border securities trading using an order-routing system (AELP Link technology
• platform) to channel orders between Stockbrokers on participating Exchanges
• A Stockbroker sponsors the trade on the host Exchange
• Custody and settlement will be on the host Exchange according to its market rules and practice.
Sponsoring broker and local custodian will be involved
• Live trading information among linked Exchanges and market participants
• Promote the African Listed Securities asset class and creating new products and securities on
the linked Exchanges so that asset managers, stockbrokers, institutional investors and
individual investors can identify investment opportunities across African markets
• Cross-border capital raising and Initial Public Offers (IPOs)
• Develop capacity between the Exchanges and boost collaboration between capital market
Regulators, Central Banks and central depositories.
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Linkage Project
