(Repeats to remove extraneous dateline)
* Volume triples within five months
* Says development of market a key aim
PORT LOUIS, March 15 Daily traded volume on a
Mauritius' commodities and currency exchange have tripled since
it started operations last October, the exchange said.
The Global Board of Trade (GBOT), as the exchange is known,
said it crossed the $35 million mark on March 11, when it
finished the day at $35.18 million.
"With this development, GBOT's daily trading volumes have
tripled within five months of commencing trading," GBOT said in
a statement issued late on Monday.
The exchange, which offers a local platform for investors'
from around the world eyeing Africa's rich resources, started
with average volumes in the range of $10 million per day in its
"Though the progress in volumes has been very encouraging
since then, the focus of GBOT will continue to be long term
development of the financial markets of Africa," the exchange
The African continent is the world's most impoverished
region, but commodity-hungry economies such as China are
increasingly eyeing investment opportunities.
GBOT said the fact that peak trading volumes have tripled in
less than five months shows the encouraging response that it is
getting from the globe.
"The exchange not only plans to launch new commodities and
currency pairs but is also set to launch new asset classes,
after securing regulatory approvals," it said.
Joseph Bosco GBOT managing director and chief executive said
the objective is not to chase volumes but to bring in the global
best practices from the financial exchange space to Africa and
The exchange offers trade in gold, silver, and five currency
pairings including the Mauritius rupee/U.S. dollar.
(Reporting by Jean-Paul Arouff; Editing by Kim Coghill)