Our Story

About MERJ Exchange

The only licensed securities exchange in the Republic of Seychelles, operating complete end-to-end market infrastructure.

MERJ Exchange Limited is the operator of MERJ Exchange, the only licensed securities exchange in the Republic of Seychelles. We have established and administer rules for the listing, trading, clearing and settlement of securities and other financial instruments.

MERJ Exchange Limited and its wholly owned group companies collectively operate the entire end-to-end exchange and post-trade infrastructure, covering exchange, clearing, settlement, registry and depository services. This relatively unique set-up, along with years of close collaboration and trust built with our regulators, has paved the way for MERJ to be an innovator and global leader in the exchange space.

Key Facts

Seychelles
Licensed by FSA
2011
Incorporated
Aug 2013
Went Live
3 Entities
Integrated Infrastructure

Our Journey

2011
MERJ Exchange Limited, formerly Trop-X (Seychelles) Limited, incorporated in the Republic of Seychelles
August 2013
Exchange went live with the launch of the Equities Market, marking the beginning of trading operations
Today
Pioneer in blockchain-enabled financial markets, supporting security tokens and digital assets

Group Structure

MERJ Exchange Limited
Parent Company - Licensed Securities Exchange
MERJ Clear
MERJ Clearing and Settlement Limited
Licensed clearing agency and authorised operator of a national securities clearing and settlement system
MERJ Dep
MERJ Depository and Registry Limited
Licensed Seychelles securities facility providing registry and depository services

What Distinguishes MERJ

End-to-End Infrastructure

Unlike most exchanges that rely on third-party infrastructure, MERJ owns and operates the complete value chain: exchange, clearing, settlement, registry, and depository under unified management.

  • Complete regulatory control and oversight
  • Faster innovation and implementation
  • Reduced operational complexity and costs

Blockchain-Enabled Markets

MERJ has expanded capabilities to support security tokens and digital assets, pioneering the integration of blockchain technology with traditional securities infrastructure.

  • Securities issuance on distributed ledger networks
  • Multi-currency settlement including cryptocurrencies
  • Global market interoperability and cross-listings

Regulatory Framework

Licensing Authority
Financial Services Authority (FSA)
Republic of Seychelles
Securities Act 2007
Licensed Activities
  • • Securities exchange operations
  • • Central securities depository
  • • Clearing and settlement services
  • • Registry and depository services

Location & Heritage

Global trade is in the DNA of Seychelles, making it a fitting location for a global exchange. Seychelles lies at the heart of the old Indian Ocean trade routes which were traversed by Asian, Arab and African traders for centuries. Today, Seychelles boasts a modern international financial services portfolio, a forward-thinking financial services regulator, low taxes, fibre optic connectivity, and more—making it the ideal location from which to operate a modern, global exchange.