Sub-custody guide: Mauritius

Sub-custody guide: Mauritius

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The key near-term objectives of the Stock Exchange of Mauritius (SEM) are to reach out to a new range of players and participants and see the creation of new products. To achieve these objectives, SEM has opted to extend the flexibility introduced for global fund listings to new products. It is hoped this will attract new players to the market, scale up the activities of the industry and improve the international visibility of SEM.

Mauritius 2015

The Mauritius’ Financial Services Commission recently brought in the Securities (Recognition of Remote Custodians) Rules 2013. “The Central Depository and Settlement Company is the first depository in Africa and the Middle East to implement the remote custodian concept. This initiative will bring a meaningful contribution to the integration of the Mauritius financial services sector within the international financial system,” says Rajiv Bali, head of HSBC Securities Services, Mauritius. 

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