About the Exchange

Tunis Stock Exchange

The mission of Tunis Stock Exchange is to manage the Tunisian securities market by :

Admitting new securities to the Stock Exchange Listing..
Organizing trading and quotation of securities under conditions that ensure fairness, security, and transparency.
Disseminating stock market information.
Promoting and developing the stock market.

Tunis Stock Exchange is distinguished by :

A modern legal and regulatory framework aligned with international standards.
Advanced trading technology ensuring performance and security.
A reliable settlement and delivery system, compliant with international standards, operating on a T+2 basis.
A market guarantee system ensuring the proper completion of transactions

The Markets of the Exchange

The Stock Exchange Listing is reserved for the trading of securities that meet the admission requirements set by stock market regulations.
It includes the following markets:

Main Market

The Main Market is intended for large
and high-performing companies.

Alternative Market

The Alternative Market is designed for s
small and medium-sized enterprises (SMEs)
with promising growth prospects.

Bond Market

The Bond Market is dedicated to
the trading of debt securities.

Asset-Backed Securities Market

The Market for Asset-Backed
Securities (ABS).

Over-the-Counter (OTC) Market

he OTC Market is open to securities
of limited companies making a public offering
but not admitted to the Official List
of the Stock Exchange.

Registered Transactions

Transactions involving limited companies that do not make a public offering are subject to a registration procedure with the Exchange.

Advantages of the Stock Exchange

For Investors and Savers

Liquid and profitable investments, particularly over the long term.
Continuous valuation of assets.
Exemption from capital gains tax, subject to a minimum holding period of the securities.
Tax relief for holders of an Equity Savings Account.
The status of shareholder and co-owner in reputable companie.

For Companies

Raising capital directly from investors at a lower cost.
Strengthening reputation and brand image.
Tax relief.
Ensuring business continuity by facilitating ownership transfer.

International Cooperation

As part of its strategy to expand its regional and international presence, the Tunis Stock Exchange is a member of several international organizations.

We invite you to discover our partners

Vision & Strategy

Make the Tunis Stock Exchange a pillar of economic transformation, an attractive, modern, and secure market, aligned with international standards.

Strengthen the legislative framework by aligning it with the national strategy and the latest international standards.

Develop and grow the market by introducing new products, promoting collective savings, and improving liquidity.

Strive for excellence, strengthen market reputation, and ensure security by modernizing operations, reinforcing cybersecurity leadership, promoting financial literacy, and enhancing transparency — all to advance toward Emerging Market status.

Aim for excellence, strengthen the Exchange’s image, and ensure security by modernizing operations, reinforcing cybersecurity leadership, promoting financial literacy, and enhancing transparency — all to advance toward Emerging Market status

Promote a responsible Stock Exchange by mainstreaming ESG reporting, developing sustainable financial products, adopting Green IT practices, and supporting local innovation through responsible technology partnerships.

Governance

BOARD OF DIRECTORS

Sonia BEN FREJ

BH INVEST - Chairwoman of the Board

Mehdi BACH-HAMBA

UNION CAPITAL

Abir ZAIED

Société de Bourse de Tunisie

Karim BOUZGARROU

STB Finance

Judicial representatives

Tuniso-Saoudienne d’Intermédiation

Nacir TRIKI

Amen Invest

Hichem BEN ROMDHANE

Attijari Intermédiation

Riadh BORJIBI

BNA CAPITAUX

Zaher JEBALI

BTK Conseil

Adel GLENZA

UIB Finance

Abdelhalim MESTIRI

Tunisie Valeurs

GOVERNMENT COMMISSIONER

Dhieb ATOUI

Gorvernment Commissioner

EXECUTIVE MANAGEMENT

Bilel SAHNOUN

CEO

Abdelaziz HAMMAMI

Deputy General Manager

UNITS

Nejib ELHIDRI

Development Department

Tarek NASRI

Market Operations Department

Hatem BEN AMEUR

Risk and Quality Département

Belhassen NAOUAR

Information System Department

Hamed ZARROUK

Finance Departement

Lotfi AGREBI

HR and Administrative Departement

Lotfi KHEZAMI

Communication Departement

Hatem ZRIBI

Legal, Control and Compliance

Key Dates of Tunis Stock Exchange

February 1969

Establishment of Tunis Stock Exchange as a public institution.

November 1994

Promulgation of Law No. 94-117 on the reorganization of the financial market, separating the supervisory and market management functions.

November 1995

Creation of Tunis Stock Exchange, a limited company owned equally by brokerage firms.

October 1996

Set up of the trading electronic system NSC

April 1998

Launch of the TUNINDEX (Base 1000 as of December 31, 1997).

December 2007

Launch of the Alternative Market, dedicated to SMEs, and upgrade to version V900 of the NSC electronic trading system.

January 2009

Change in the calculation method of the TUNINDEX, now based on free-float market capitalization, and discontinuation of the BVMT Index, launched in September 1990.

May 2009

Creation of the Client Protection Fund for the securities and financial products market to cover non-commercial risks.

August 2009

Promulgation of the Code of Financial Services for Non-Residents.

December 2010

Relocation to the new headquarters of Tunis Stock Exchange at Les Berges du Lac II.

November 2012

Organization of the first Stock Exchange and Financial Services Fair “Investia.”

January 2014

Launch of the first Stock Market Challenge “myInvestia.”

May 2014

2nd Edition of the Stock Exchange and Financial Services Fair “Investia.”

October 2015

Membership in the United Nations Sustainable Stock Exchanges (SSE) Initiative.

January 2017

ISO 27001:2013 Certification.

October 2018

Full membership in the World Federation of Exchanges (WFE).

June 2019

Celebration of the 50th Anniversary of the creation of Tunis Stock Exchange.

October 2019

Launch of the “Investia Enterprise” Project.

August 2021

Migration to the new trading platform “Optiq”

December 2021

Launch of the ESG Reporting Guide.

February 2022

First financial sector company in Tunisia certified ISO 20000-1:2018.

May 2024

First Tunisian company certified ISO 22301

April 2025

Publication of the first ESG report for the year 2024

Human resources — A Major Asset of Tunis Stock Exchange

At Tunis Stock Exchange, quality of life at work, respect for equal treatment, and proactive management of jobs and career paths are key pillars of the human resources policy. These elements are seen as true drivers of social cohesion and sustainable performance.

The principle of professional equality lies at the heart of our HR strategy. It is reflected in a continuous commitment to ensuring fair treatment for all employees and to actively combating all forms of discrimination.

Our key human resources priorities are centered around several core objectives:

Customer satisfaction,
Continuous performance improvement,
Employee motivation and engagement,
Retention of young talent.

Training plays a central role in our HR policy. From the moment they join, employees receive support that helps them develop and maintain their technical skills in an ever-evolving environment. Training also fosters a culture of excellence and knowledge sharing, while enriching career development.

In the same spirit, welcoming interns is an important part of our social policy. Tunis Stock Exchange offers students a valuable, rewarding, and educational professional experience. Feedback collected at the end of their internships confirms their satisfaction with the diversity and relevance of the tasks entrusted to them.

Finally, the approach adopted by Tunis Stock Exchange has strengthened team cohesion, boosted engagement, and mobilized employees around a shared pursuit of excellence — building together a responsible and ambitious future.

Certificates

Since 2022, the Exchange has also been certified ISO/IEC 20000-1, the standard dedicated to service management. This framework defines best practices for planning, designing, delivering, and continuously improving services, ensuring their alignment with business needs and value creation. Its adoption strengthens the availability and performance of our technological infrastructure, enhances the user experience, and supports our continuous improvement approach.

SEE CERTIFICATE

Certified ISO/IEC 27001 since 2017, the Tunis Stock Exchange operates an Information Security Management System (ISMS) compliant with international standards governing the identification, assessment, and treatment of risks related to data confidentiality, integrity, and availability.
This recognition strengthens our cyber governance, reassures issuers and investors regarding the protection of their sensitive information, and reinforces the resilience of our trading and market data dissemination platforms.

SEE CERTIFICATE

In 2024, Tunis Stock Exchange reached a new milestone by obtaining ISO 22301 certification for its Business Continuity Management System (BCMS). This international standard strengthens our ability to anticipate, manage, and overcome major disruptions in order to ensure the uninterrupted continuity of stock market operations. It reduces potential downtime, protects market confidence, and meets the requirements for operational resilience.