Global Board of Trade enters into a strategic alliance with Lahore Stock Exchange

LAHORE: The Global Board of Trade (GBOT) has entered into a strategic alliance with the Lahore Stock Exchange (LSE). Through that alliance, both organisations aim to work together for the development of securities markets within the respective jurisdictions of operation and to ensure that the advantages of an efficient securities market is made available to all spectra of users within their respective countries and regions. Both the exchanges have also decided to share the knowledge and expertise for mutual benefit and to render necessary support to each other wherever applicable.

GBOT and LSE have mutually agreed to admit members of their respective exchanges, provided that the applicants/members meet the defined admission criteria of the Exchanges and the statutory and regulatory provisions as applicable in their jurisdictions.

Commenting on the development, Mr. Joseph Bosco, MD and CEO of GBOT said, Exchanges are very complex super-structures with transactions happening at lightning pace. In such exchange environments, any amount of knowledge and expertise seems insufficient. In the new age economic order complemented by strong ICT infrastructure, alliances among exchanges and subsequent leveraging of core competencies is the right approach to take. GBOT’s alliance with the LSE, is a good step in this direction and will immensely benefit the market participants of both Asia and Africa, the regions in which these exchanges operate.

Expressing his perspective on the alliance between GBOT and LSE, Mr. Aftab Ahmad Chaudhry, MD and CEO of LSE said We are happy to ally with a multi-asset international exchange like GBOT. Providing global investors an option to invest in an emerging market like LSE with some of the most attractive securities valuations in the region and historically low correlation to international markets will enable them to diversify their portfolios.

Pakistan does not currently have a currency exchange and with this alliance, we wish to facilitate the global best in commodities and currency futures trading and international arbitrage opportunities to our market participants thereby allowing them to take part in the growth story of Africa. Knowledge sharing and mutually benefitting from each other’s core competencies, represent further value-add that this alliance would bring to LSE and GBOT.

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