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355Douala Stock exchangeINTRODUCTIONThe Douala Stock Exchange (DSX) is a stock com- pany that manages the stock market daily by organizing transactions. It means trading sessions of sale and purchase of property values, which include stocks, bonds and other securities. Three trading sessions are held every week (Monday, Wednesday, and Friday). Its market is divided into two sections namely a stock market and bond market. Typical activities of the financial market are compartmentalized into two: The primary mar- ket, a market for new securities, which proposes issues and public offerings for the first time on the stock exchange. And the secondary market is the one said to be second hand market on which the securities previously issued are exchanged. It’s the very expression of the stock market through admis- sions to the sale and purchase of securities.STOCK MARKETIn this section, the DSX had three listed shares in July 2016: A SEMC share whose current stock price is 61,999 CFAF was listed on the stock market since June 30, 2006. A SAFACAM share, with a current price of 36,998 CFAF was listed on the market since July 9, 2008 and, finally SOCAPALM share currently at 20,899 CFA francs, listed on the mar- ket since April 7, 2009.The three shares together represent the capitalization of share section, which currently amounts to 153 985 595 077 CFAF.CAMEROONIAN ECONOMY: A FUNDING STRATEGYThe State has been developing his strategy since four years to solve economy funding problems; a strategy is based on issuing public securities. For now, there are two types of preference money market instruments:• T-bills (BTA) for short term cash requirements of the State;• Treasury notes and Treasury bonds (OTA) for the long and medium-term public investments.POSITIONINGOver the past years, the Douala Stock Exchange has been expressing strong arguments to get the upper hand in the current debate for merging or maintaining the two stock exchanges (Douala and Libreville) operating in the Economic Community of Central African States (ECCAS). Arguments for the merging of the two markets are essentially based on the narrowness of sub-regional market. Compared to each other today, the DSX is the leading market.LES ATOUTS ECONOMIQUES DU CAMEROUN

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