Regulated markets company to become Angola’s Stock and Debt Market

26 April 2013

Angola’s Regulated Market Management Company (SGMR) will initially manage the special public debt market and later evolve to become Angola’s Sock and Debt Market (BDVA), the chairman of the Capital Markets Commission, Archer Mangueira said Monday in Luanda.

Speaking to Angolan news agency Angop, Mangueira said that SGMR would provide the physical and institutional structure required for transactions to be carried out, as well as for pre and post trading services.

According to the manager, SGMR, the legal framework for which was analysed Wednesday, 24 April, by the Council of Ministers, will be a publicly-owned limited company, and will ensure trading of eligible securities.

According to Mangueira, the legislative package sets out the regulatory framework needed for securities that belong in the secondary public debt market, in the corporate debt market and the investment fund segment to be able to be traded in markets managed by the company based on orders from financial intermediaries (brokerages, distributors and banks) registered at the CMC for that purpose.

He noted that SGMR had been created as an alternative to a traditional stock exchange, as trades can be made within a number of frameworks and in some cases, simultaneously.

“The Bourse market, as we understand it, is not an exclusive condition for the stock market to be launched and to operate, as there are other ways of doing this,” he clarified.

Mangueira said that creation of a good corporate governance code was in the pipeline, along with an ambitious financial training project focused on investors, and creation of a training institute. (macauhub)