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Governance Structures in African Securities Exchanges: Demutualization Theory, Conflict of Interest and Regulatory Challenges

by Samuel O Onyuma
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Current price ₹1,876.00
Original price ₹2,023.00
Original price ₹2,023.00
Original price ₹2,023.00
(-7%)
₹1,876.00
Current price ₹1,876.00

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Book cover type: Paperback
  • ISBN13: 9798890669179
  • Binding: Paperback
  • Subject: N/A
  • Publisher: Notion Press
  • Publisher Imprint: Notion Press
  • Publication Date:
  • Pages: 482
  • Original Price: GBP 15.99
  • Language: English
  • Edition: N/A
  • Item Weight: 699 grams
  • BISAC Subject(s): Investments & Securities / General

Demutualization is the transformation of a securities exchange governance structure from a mutual association of stockbrokers operating as not-for profit entity into a for-profit company accountable to its shareholders. It has become a widespread phenomenon - one with increasing appeal in developed markets. It challenges the traditional approach to regulation of securities exchanges and raises issues regarding their role in capital markets regulation. In spite of its popularity as a strategy for catalysing securities exchange development in emerging economies, its pace in Africa has been excruciatingly very slow. African securities exchanges therefore remain underdeveloped compared to their peers in other emerging markets. So, how can African securities exchanges facing the challenge of integration and better technical and institutional development address the problem of underdevelopment through demutualization? This book explains how demutualization can enable greater and swifter securities market development in Africa; the role government regulators should play in demutualization of exchanges in African countries; the right self-regulatory model applicable to African exchanges; effective management of conflicts of interest and other barriers to separation of ownership from management and trading rights; types of investments needed to enhance the effectiveness of African's capital market; and how securities exchange demutualization can facilitate African countries destiny to become leading capital markets globally.

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