Bloomberg News

BRICS Bourses Form Alliance to Encourage Cross-Border Investment

October 13, 2011

Oct. 12 (Bloomberg) -- The stock exchanges of Brazil, Russia, India, Hong Kong and South Africa agreed to form an alliance to encourage cross-border investment, JSE Ltd. Chief Executive Officer Russell Loubser said.

The bourses of so-called BRICS nations signed a memorandum of understanding at Johannesburg’s stock exchange yesterday, Loubser said at the World Federation of Exchange’s meeting in the city today.

“We will continue to seek other alternative avenues of collaboration,” Charles Li, CEO of the Hong Kong stock exchange, said in Johannesburg.

To contact the reporter on this story: Stephen Gunnion in Johannesburg at sgunnion@bloomberg.net

To contact the editor responsible for this story: Ana Monteiro at amonteiro4@bloomberg.net


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