Botswana bourse to automate trading
BOTSWANA| 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 BOTSWANA NEWS
World Bank Group to present Digital DividendsThe World Bank Group and Botswana Innovation Hub will on Tuesday 16 February host the World Development Report 2016: Digital Dividends. These presentations will be hosted from 10.30 - 12 noon in Gaborone. Read More
BOCRA shares customer satisfaction surveyThe Botswana Communications Regulations Authority, BOCRA, has shared with its stakeholders the contents of a Customer Satisfaction Survey conducted on its behalf by the Botswana Institute for Development Policy Analysis (BIDPA). Read More
Hospitium brings 7D cinema to BotswanaHospitium, a 100 percent youth owned entertainment company, is changing Botswana’s cinema landscape by ushering in the 7D cinema experience. Read More
BIH Science, Technology Park opening in 2016The Innovation Hub conceived Science and Technology Park, which is being constructed on the fringes of the Botswana Diamond Park and Sir Seretse Khama International Airport, is expected to be ready for use during the current year. Read More
BITC launches online trade portalAs part of efforts to improve trade facilitation, the Botswana government, through the Botswana Investment and Trade Centre (BITC), has launched a web-based platform designed to help improve the ease of doing business. Read More
Over 10,000 applications for BTCL sharesBatswana have come out in record numbers to submit their Offers for BTCL shares, with around 1,000 applications per day at Barclays Bank branches across Botswana. Read More
Government upbeat about hosting the IPA awardsBotswana is celebrating 50 years of independence in September this year and the pronouncement that the country is going to host the the 5th Innovation Prize for Africa event in Gaborone in the same year is a welcome development. Read More
Bank starts year with new mobi appBancABC says their newly launched product, BancABCMobi, will allow more customers to use mobile banking solutions in this coming year and many more to come. Read More
Innovation Prize for Africa 2016 comes to BotswanaBotswana has won the bid to host the fifth annual Innovation Prize for Africa (IPA). IPA is a landmark programme of the African Innovation Foundation (AIF), whose purpose is to increase the prosperity of Africans by catalyzing the innovation spirit in Africa. Read More
FEATURED STORYViber Spreads Good Vibes in Africa with the introduction of public chats
Viber, one of the leading messaging and calling apps with more than 664 million unique users worldwide, has opened its latest social channel ‘Public Chats’ to partners in Africa and the Middle East.
BEST READ NEWS
IN DEPTHPoised for greater heights – Roshi Motman, AfricaCom CEO of the Year Winner
Roshi Motman is not your average CEO. Since taking up the reins as the first female CEO of Tigo Ghana in 2014, she has led the Tigo brand through a remarkable transformation.