FTSE and JSE - Johannesburg Securities Exchange - will embark on a joint venture to provide index products for African markets.
The FTSE/JSE Africa Series will be developed for South African and and other African investors.
Both FTSE and JSE are set to review the existing JSE equity and derivative indices, bringing them in line with international investment standards. This will include the implementation of free float, total return indices, the FTSE global classification system, and a greater range of benchmark and tradable index products.
FTSE will calculate the FTSE/JSE Africa series on behalf of JSE. The review process is expected to be completed by the end of 2001.
An advisory committee will be appointed to manage the indices. The committee will be led by Anton Botha, chairman of Gensec Bank in South Africa.
Further indices in the series are also expected to be announced before the end of 2001.
By Janet Du Chenne
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