MARKET
INFORMATION
Regional stock market encompassing: Benin, Burkina Faso, Cote D’Ivoire, Guinea Bissau, Mali, Niger, Senegal, and Togo.
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Trading Hours |
Pre-opening session |
09:00 – 09:45 |
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Open |
09:45 |
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Pre-closing session |
14:00 -14:30 |
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Trading at last |
14:30-15:00 |
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Close |
15:00 |
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Time Zone |
GMT |
Trading Days |
Monday - Friday |
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Trading Currency |
CFA Franc BCEAO (XOF) |
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Main Index |
BRVM COMPOSITE |
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Exchange Code |
Bloomberg |
BC |
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Trading ID |
Local account details |
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Settlement Cycle |
T+3 |
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Current Index Status |
MSCI FM - FTSE FM |
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Market Cap |
$13.1bn |
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Average Daily Value Traded
| Year | AVG VALUE TRADED |
|---|---|
| 2021 | $0.80mn |
| 2022 | $1.09mn |
| 2023 | $0.97mn |
MARKET
DYNAMICS
Stock Limit
Up/Down
Up/Down
+/-7.5%
from previous close
If a stock moves 2% from last price (for ETIT BC, if it moves +/-1%), it gets suspended for 5 mins then the stock reopens with a ceiling/floor of 7.5% on the day.
from previous close
If a stock moves 2% from last price (for ETIT BC, if it moves +/-1%), it gets suspended for 5 mins then the stock reopens with a ceiling/floor of 7.5% on the day.
Closing
Auction
Auction
Pre-closing auction
2:00pm - 2:30pm
Trading at last
2:30pm - 3:00pm
Tick
Size
Size
XOF 5.00 except ETIT BC, it trades in XOF 1.00
Crosses
Permitted
Off- Market
Crosses
Crosses
Permitted with certain parameters
Official
Closing Price
Closing Price
Matched price in the closing
auction or the last traded price prior to the auction in case no matching occurred in the auction.
auction or the last traded price prior to the auction in case no matching occurred in the auction.
Board
Lot
Lot
No board lots
Iceberg
Available with no min shares to be visible.
However, iceberg will be visible as such on the trading platform
However, iceberg will be visible as such on the trading platform
All or
None
None
Available
MARKET
REGULATIONS
Foreign Ownership Restriction
No foreign ownership restrictions apply. Foreign investors may own up to 100%
of any stock.
of any stock.
Securities Lending
Not permitted
Short selling
Not permitted
Crossing Restrictions
None
Disclosure rules
A public disclosure is required at the ownership of 5%, 10%, 20%, 33.33%, 50%
and 66.66% of any listed company. Custodian is held responsible for informing
the exchange.
and 66.66% of any listed company. Custodian is held responsible for informing
the exchange.
Failing trades
The local custodian’s deadline to receive instructions and settle the trades on
time is (T+2) 09:00 am. Deadline for the fundings is (T+2), 09:00 am local time
Market penalties will be applied starting T+3.
time is (T+2) 09:00 am. Deadline for the fundings is (T+2), 09:00 am local time
Market penalties will be applied starting T+3.
MARKET
FEES & TAXES
| Market Fees | 30 bps (breakdown available) |
| Withholding Tax | 10% on the brokerage fees |
| Capital Gain Tax | None |
| Dividend Tax | Varies from 7% to 12.5% depending on the regulations of each country. (please contact us for more details). |