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Its functions include the exchange of information and assistance in the development of member exchanges. [1] [2] As of 2022, there were 30 exchanges in Africa, representing 39 nations' capital markets. At that time, ASEA had 26 Full Members and 6 Associate Members. [3]
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ASEA is based on technology developed and patented by Medical Discoveries, Inc, a publicly traded company (MLSC). [citation needed] MDI went up for sale in 2007, and board member Verdis Norton secured investment to purchase the technology. Under the company name of ASEA, they began selling the product in 2009 with an official launch in 2010.
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The Rc-model emerged from ASEA in the 1960s. It first appeared in 1967 to replace the older D-locomotives. Notably, ASEA facility manager and head engineer Tore Nordin was involved in designing and developing the Rc locomotive at ASEA. [1] The initial Rc models are notable for using thyristors instead of the older relay-based system.