Botswana bourse to automate trading
BUSINESS| July 10, 2012, 11 a.m.
By John Churu, Gaborone, Botswana
The Botswana Stock Exchange intends to introduce an Automated Trading System (ATS) which it hopes will make the local bourse more visible and create efficiencies in the trading methodology once implemented.
This information was part of its annual report for 2011. The BSE explained that the implementation of ATS was progressing at a rapid rate and is expected to be implemented in Quarter 4 of 2012. “Along with the implementation of the ATS, our CSD system is also being upgraded,” wrote Chairperson, Patrick O’ Flaherty.
According to O’ Flaherty: “The ATS is a major development” for the BSE and “compliments the already established CSD, which will propel the BSE to into the future,” he noted. Adding that “The ATS will make us more visible and help create efficiencies in the trading methodology, which we expect will enhance liquidity.”
BSE implemented the Central Securities Depository (CSD) in 2008 and since the introduction the systematic risk of investing in share market decreased. However, the exchange observed that in order for the CSD to reach its potential, there is a need to engage investors and motivate them to dematerialise their shares.
“A central depository system can only reach its full potential in a 100 percent dematerialised environment,” said O’ Flaherty. “This is the reason that in certain countries dematerialisation is mandated by law or directed to be carried out by the Capital Market Regulator.”
The BSE said that the dematerialisation of share is in the CSD is continuing at a satisfactory pace. By the end of December, 2011, there were more than 12, 800 investor accounts open with 46 percent of all domestic company shares and 91 percent of all foreign company shares being dematerialised. “The BSE also dematerialised its first corporate bond after obtaining approval from Registrar of Companies”. O’ Flaherty added that this has been the experience of many other markets that have implemented the automated trading systems.
MORE BUSINESS NEWS
Collymore: PPP transparency to fuel Africa’s renaissanceAfrica’s renaissance will be fueled by transparent partnerships between governments and private businesses working to improve the livelihoods of the continent’s population, Safaricom CEO Bob Collymore has predicted. Read More
Lack of technology bane of Nigeria’s SMEs, says Matt O’Bell chiefAside financial constraints, the non-application of technology has been identified as one of the constraints of small and medium enterprises (SMEs) in Nigeria. Read More
Telecom M&A and digital convergence to lead deal activity in AfricaTMT Finance is teaming up with IHS Towers, the largest mobile telecommunications infrastructure provider in Africa, Europe and the Middle East, to bring an international audience to Africa’s technology hub, Lagos, for the first event of its kind in Nigeria. Read More
Reach for Change Africa calls for strengthened social entrepreneurshipReach for Change Africa is calling on social entrepreneurs, NGOs and government to play their role in strengthening the social entrepreneurship sector in Africa on International Day of Youth 2016. Read More
Stanford Seed Entrepreneurs join top Silicon Valley business leaders at Global SummitAfolabi Abiodun, CEO of Nigeria-based telecommunications company SB Telecoms, couldn’t quite believe his eyes as he stood on Stanford University’s bustling Silicon Valley campus recently. Read More
Etisalat, YuuZoo launch e-commerce portal for SMEsNigeria’s most SME-friendly telecommunications operator, Etisalat, in partnership with Singapore’s YuuZoo Corp, has unveiled a bespoke e-commerce platform, SME Arena, to facilitate the growth of Small and Medium Enterprises (SMEs) in Nigeria. Read More
Mstore plans $50m African expansionMidcom Group has announced expansion plans aimed at making its Mstore the largest mobile and electronics retailer in Africa. Read More
*astTECS Expands Operations in Africa*astTECS, a leading provider of Enterprise Telecom Technology Products and Asterisk based Open Source Communication Solution, is expanding its Africa footprint with a presence in Ghana and Botswana. Read More
The Tech Revolution: Sage Sets out the Vision for African BusinessesSage, a market leader in cloud accounting software used its global Sage Summit 2016, held this week in Chicago, to outline its strong commitment to future technologies, with a focus on new and existing initiatives that power business growth. Read More
FEATURED STORYFinancial services sees AI as both opportunity and threat
Banking is already a key area where technology is having an impact throughout Africa, and a new survey assesses the impact artificial intelligence will have on this sector.
BEST READ NEWS
IN DEPTHAccess and Use of ICT stats released
Statistics Botswana has released the first results of the 2014 Information and Communication Technology Household Survey.
COMPANY NEWSTigo customers win cash prizes from ‘Wo suro aaa wondi’ promotion
Tens of Tigo customers have won various cash prizes and branded gift items as part of the telecom operator’s biggest consumer promotion for 2016.