Stock exchanges
Number of listed companies
Domestic market capitalization
million US$

Bourse des Valeurs Mobilières de Tunis

Name Bourse des Valeurs Mobilières de Tunis
Country Tunisia
Number of listed companies 80
Domestic market capitalization 8079.99 million US$
SSE Partner Exchange Yes
Has annual sustainability report No

ESG reporting required as a listing rule No

Has written guidance on ESG reporting Yes

Offers ESG related training No

Market covered by sustainability-related index No

Has sustainability bond listing segment No

Has SME listing platform Yes

  • Tunis Stock Exchange Alternative Market, since 2007. (Source)

Women on boards mandatory minimum rule No

Additional information
  • The TSE tries to favor the economic efficiency and the good governance in companies, control of the risks bound to their activity to reassure investors and investors, but also the other stakeholders. It considers social responsibility is favorable for listed companies, because it helps them anticipate the crises, face instabilities and consequently make the good decisions.
  • In 2017, the stock exchange achieved a set of actions concerning in particular the realization of seminaries dedicated to the stakeholders of the market, training employees of TSE for the implementation of an approach of CSR according to the ISO 26000 standards, the participation in the quarterly webinar gathering of the members registered in the SSE Initiative, the dissemination of their reporting of CSR on the web site of the SSE Initiative, the participation on the university demonstrations and debates on the CSR, and the celebrating of the world day for the promotion of the gender equality on March 8th.


Organizational model of stock exchange
  • Limited company equally held by brokerage firms. Minister of finance is represented by a government commissioner.

Regulatory bodies

Regulatory model
  • CMF is a public authority with legal personality and financial autonomy. The CMF is responsible for ensuring the protection of savings invested in securities, the organization of markets and ensuring their smooth operation to prevent practices that may impede the proper functioning. It is also responsible for monitoring financial reporting and punishment of breaches or violations of the regulations. It oversees the Tunis Stock Exchange, the Brokers and Tunisian Clearing. (Source).

About the stock exchange
  • In February 1969, the BVMT was created as a public establishment. In November 1995, the Tunis Stock Exchange was created as a limited company held by the brokers, 23 in total. (Source).

Criteria for Stock Exchange Database

The SSE maintains a database of sustainability activities for all stock exchanges that are either members of the SSE initiative and/or members of the World Federation of Exchanges. This database is the most comprehensive database of stock exchanges worldwide and contains data on all main stock exchanges. The information in this database is intended to inform investors and other stakeholders on the work stock exchanges are undertaking to advance sustainability in their respective markets.

The information provided in this database is based on publicly available information prepared by the SSE Secretariat with input from stock exchanges in most instances. Sources and explanatory notes on sustainability information have been included in individual Stock Exchange Fact Sheets. The criteria for each category can be found below.

While every effort is made to keep the information in this database up to date, please be aware that certain factors change frequently and therefore may not be exact, such as the number of listed companies or market cap.


Criteria Considered

Country Country of primary residence or registration
Has signed the SSE Commitment Letter? To be considered an SSE Partner Exchange, the CEO or Chairperson of the exchange must sign an SSE commitment letter. Contact the SSE for more information if your exchange would like to join.
Has annual sustainability report? For a yes, stock exchanges must report, either in a stand alone report or integrated into their financial report, on their environmental and social impact and corporate governance.
ESG reporting required as a listing rule? For a yes, all three factors have been considered (environmental, social and governance) within the listing rules for some or all listed companies. This requirement may come from the regulatory authority or the exchange, depending on the market.
Offers written guidance on ESG reporting? For a yes, all three factors have been considered (environmental, social and governance). The SSE has developed a model guidance that all exchanges can use to develop their own guidance to issuers. For more details, click here.
Offers ESG related training? For a yes, training must have taken place in the previous 12 months, and must be interactive. The topic of the training must be on some area of sustainability.
Market covered by sustainability-related index? Sustainability-related indices may include environmental or social  indices, or ESG indices. This could include specific themes, such as low carbon indices, or general sustainability indices. The index must be specific to the market the exchange operates in (a region or world index is not included).
Has sustainability bond listing segment? For a yes, the exchange has developed the rules and regulations allowing for sustainability bonds to be listed, and provides a separate segment for listing making the bonds easy to find and identify.
Has an SME listing platform? For a yes, the exchange offers a listing platform specifically for Small-and-Medium sized enterprises.
Additional Information Additional Information captures exchanges’: sustainability section of websites,  sustainability products not captured under indices; information on future sustainability commitments and other information on the exchange
Organizational model of stock exchange Whether the exchange is listed or not, and when it was demutualized
Regulatory bodies The regulatory authority that sets listing requirements and capital market regulation for the exchange's market
Regulatory model

The extent to which exchanges have regulatory authority in their market. This may include:

  • Limited exchange SRO
  • Strong exchange SRO
  • Independent member SRO
  • Government (Statutory)
  • Non-SRO
About the stock exchange The location of the headquarters of the exchange, and any additional details about the stock exchange.