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
DHL to invest millions of Euros across SSA in 2015DHL plans to invest millions in upgrading its shipment handling systems and facilities in SSA this year. Read More
Ebenezer Asante to assume CEO role of MTN GhanaEbenezer Twum Asante will officially assume the position of Chief Executive Officer for MTN Ghana, effective 1st July, 2015. Read More
Nomanini scales West African footprint with Transaction Solutions partnershipSouth African-based portable Point of Sale (PoS) service provider Nomanini has signed an exclusive agreement with Transactions Solutions Ghana Limited to substantially scale numbers of its cloud-based PoS terminals in Ghana. Read More
Online procurement system for East Africa goes liveKenyan IT start-up M-Tenders Systems has created East Africa’s first live online procurement system, www.m-tenders.com. Read More
Customer experience starts with staff experienceCompanies seeking to improve customer experience to boost business may be overlooking a critical component in the mix: staff, says new Interactive Intelligence research. Read More
MasterCard, Ecobank Group to accelerate e-payment in SSAEcobank, Africa’s largest bank by geographical reach, will roll out MasterCard payment solutions to millions of its customers in Africa. Read More
Travellers more tech savvy78% of global travellers are using digital information while planning their trips; 66% resorting to digital sources for travel tips at the destination, says Visa. Read More
Standard Chartered appoints Chief Innovation OfficerStandard Chartered Bank says it has appointed Ms Anju Patwardhan as the Bank’s first Group Chief Innovation Officer, effective 1 July 2015. Read More
Cameroon: a well-kept investment secretThe investment opportunities in Cameroon are wide open, believes Africa strategy advisor for Moore Stephens, Jeff Blackbeard, who recently met with Cameroonian Prime Minister Philémon Yang. Read More
FEATURED STORYIHS plans to inject fresh $500m to grow capacity
Mohammed Darwish, managing director of IHS Towers, says the firm will soon inject another $500million into the business after raising some $2.5billion to finance expansion drives. Darwish spoke with biztecafrica.com in Lagos.
BEST READ NEWS
IN DEPTHAs curtain falls on MDGs, what next?
Dr. Bjorn Lomborg, president of the Copenhagen Consensus Centre, speaks to Biztechafrica about setting smart targets.