As a market company, the Douala Stock Exchange and its representatives are installed in two geographically distinct sites:
- The Stock Exchange building
1.1 The central site (ground floor, first and second floors of Stock Exchange building
This is the main building adjoining the dealing room (DSX).
This site is home to the following operations :
The central depositary is within the main stock exchange building. Information produced by the Douala Stock Exchange is handled and processed here. This processing allows the depositary to monitor and manage the flux of shares of members (daily accounting procedures) and to communicate daily cash balances to the settlement bank. • The settlement bank (Douala Bonanjo) The bank used for settlement is Société Générale de Banques au Cameroun (SGBC); its role is to ensure the settling of accounts resulting from market transactions.
Communication between these three entities is carried out electronically.
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General principles
1. Market principles
The fundamental principles of market operations are as follows :
- A centralised market, driven by orders ;
- Centralised processing of orders by authorised dealers ;
- Listing by fixing
- Spot market
- Automatic transactions without confirmation
- Guaranteed good conclusion of transactions
2. Principles of settlement and delivery
Concerning the regulation of outcomes, the main principles are as follows :
- Delivery of shares and settlement of collateral in cash;
- Irrevocability of accounting flows;
- Flexible conclusion, a fixed number of days following the transaction (4 days to begin with)
- Listed stocks are paperless to bearer
- Unlisted stocks are paperless and registered
- Transfer of ownership at moment of negotiation.
For accounting rules and principles, the following standards are applied :
- Double-entry bookkeeping
- Accounting by share
- Identification of categories of assets by nature of account
- Legal principles respected
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