GBOT Set to be Launched on 15th October by the Hon. Prime Minister of the Republic of Mauritius
By Global Board Of Trade Ltd. gbot, PRNEWednesday, September 29, 2010
The Official Launch Ceremony Scheduled to be Held on 15th October, 2010 at the InterContinental Mauritius Resort, Balaclava Fort, Will Herald a New Era in the History of Trading Between Africa, Asia and the Global Markets
PORT LOUIS, Mauritius, September 30, 2010 - The Global Board of Trade (GBOT), the first international multi-asset
class exchange based out of Mauritius, will be officially launched
on 15th October, 2010 by the Guest of Honour, Dr. The Honourable Navinchandra
Ramgoolam, GCSK, FRCP Prime Minister of the Republic of Mauritius at the
InterContinental Resort, Mauritius, Balaclava Fort. Over 200 global leaders
from Africa, Europe, Middle East, Asia & the United States will be present to
witness the launch. GBOT will commence trading on its state-of-the-art
electronic trading platform from 18th October, 2010.
GBOT is the first international multi-asset class exchange
from Mauritius that will offer a basket of commodity derivative products,
including metals, energy, agri-soft, and currency derivative products, on its
state-of-the-art electronic exchange platform, with efficient clearing and
settlement systems to ensure counterparty guarantee for all trades. To begin
with, GBOT will offer trading in Gold, Silver, MUR/USD, USD/ZAR, EUR/USD,
GBP/USD and JBY/USD.
Commenting on the announcement, The Honourable Pravind Kumar
Jugnauth, Vice-Prime Minister, Minister of Finance and Economic Development
of the Republic of Mauritius, said, "I heartily welcome Global Board of Trade
Limited in the economic and financial landscape of Mauritius. I am confident
that the commodities and currency derivatives market being set up by GBOT
will contribute in further enhancing the attractiveness of Mauritius as a
business, trade and financial hub."
GBOT's recently appointed Chairman, Mr. Venkat Chary, added,
"GBOT will surely play a key role in creating a vibrant financial market
ecosystem in Africa from Mauritius, which has been growing fast and
attracting global investors and corporations. GBOT will provide an ideal
platform to access the fast-growing economies of the African region and also
create new opportunities for Africa to trade with the global markets."
"The cumulative GDP of Africa is estimated to be US$2.6
trillion by 2020, with consumer spending of over US$1.4 trillion, which is
ample testimony to the fact that the continent is well-poised to see high
levels of growth in the next decade. GBOT will create an ideal risk
mitigation platform to cater to increasing levels of business activity and
revolutionise the financial markets' landscape of Africa. In the years to
come, GBOT will present a plethora of opportunities to the African population
and global investors alike to partake in the African growth story," said
Mr.Jignesh Shah, Vice Chairman, GBOT and Chairman, Financial Technologies
Group.
"I would like to thank the Government of Mauritius, the Market
Regulator Financial Services Commission (FSC), Bank of Mauritius (BOM),
Policy makers, Board of Investment and market participants for being
extremely supportive. We will ensure the creation of a global multi-asset
exchange and play a crucial part in shaping Africa's commodities and currency
derivatives trading industry. Through GBOT, we will enable Africa to decide
the true value of its commodities in its own time zone rather than chasing
other markets and their time zones," said Mr.Joseph Bosco, MD and CEO, GBOT.
ABOUT GLOBAL BOARD OF TRADE LTD
Global Board Of Trade Ltd. (GBOT) (www.gbot.mu ) is the first
international multi-asset class exchange from Mauritius that will offer a
basket of commodity derivative products including metals, energy, agri-soft,
as well as currency derivative products. GBOT will commence trading on its
state-of-the-art electronic exchange platform with efficient clearing and
settlement systems to ensure counterparty guarantee for all trades.
Regulated by Financial Services Commission (FSC), GBOT is strategically
located at the crossroads of Africa and Asia and offers an ideal platform for
global investors to access many of the world's fastest growing economies from
Mauritius.
GBOT is promoted by the Financial Technologies Group
(www.ftindia.com ), a global leader in setting up and operating
tech-centric next generation exchanges in the emerging but fast growing
economies from Africa to Asia and Middle East to South East Asia. The Group
operates one of the largest exchange networks comprising 10 exchanges and 6
ecosystem ventures which address upstream and downstream opportunities around
exchanges, including clearing, depository, information vending, and payment
gateway among others.
More information is available at www.gbot.mu Please contact: For Business enquiries For Media Enquiries Soumya Kanta Padhi Michel Gilbert Deville Business Development Corporate Communications TEL : +230-404-0013 TEL: +230-404-0000 Email: soumya.padhi@gbot.mu Email: mediagbot@gbot.mu
For Business enquiries: Soumya Kanta Padhi, Business Development, TEL : +230-404-0013, Email: soumya.padhi at gbot.mu; For Media Enquiries: Michel Gilbert Deville, Corporate Communications, TEL: +230-404-0000, Email: mediagbot at gbot.mu
Tags: Global Board Of Trade Ltd. (gbot), Mauritius, Port Louis, September 30