The Stock Exchange of Mauritius and social enterprise NeXii approved listing and trading rules

The world’s first social enterprise investing exchange board has been launched for listing by qualified social and environmental organisations and impact investment funds wanting a listing in public capital markets.

The Stock Exchange of Mauritius (SEM) and social enterprise NeXii have received formal regulatory approval of the listing and trading rules for the investment exchange board – to be known as iX – from Mauritius’s Financial Services Commission.

SEM has established the iX in collaboration with NeXii, a social enterprise in Africa and a solid track record of performance and contribution in the field of impact investing.

Tamzin Ractliffe, CEO of NeXii, says NeXii’s mission is to make impact investing a reality at scale by radically improving the systems for trust, transparency, credibility and comparability across impact investment options.

Ratcliffe says the iX represents an important breakthrough in facilitating the flow of capital to deliver effective solutions to global social and environmental challenges, whilst protecting mission.

He says this is a critical turning point for the sector and could help other similar initiatives seeking to progress – hopefully on the basis of mutual recognition, comparability and consistency in listing rules and reporting obligations.

In a statement, the team leading iX says multi-currency trading and settlement abilities in US Dollars, Euros or British Pounds reduced currency risk, whilst SEM’s live presence on all major international data vendors – including Bloomberg, Thompson Reuters, Financials Times, Factset and Inet Bridge – provided significant global access for listed companies and investors.

The iX says it aims to add ‘mission protection for impact purpose initiatives’ through world-class rules and regulations and efficient trading, clearing and settlement systems that promote the principles of market integrity, investor protection and efficient price discovery.

The iX was launched ahead of the first Social Capital Markets (SOCAP) Europe Conference, on the site in Amsterdam where the first stock was traded on a capital market in 1602.

SEM is a full member of the World Federation of Exchanges, a recognised Stock Exchange by Her Majesty’s Revenue and Customs in the UK, and an Approved Stock Exchange by the Cayman Islands Monetary Authority.