Nairobi bourse goes digital
By Semaj Itosno, Nairobi, Kenya
The Nairobi Securities Exchange (NSE) has finally launched an electronic system that links all brokers to the bourse’s trading systems.
The system effectively eliminates the tedious paper trading of shares and would make monitoring of NSE activities easier for management.
With the new system the entire process of trading in securities listed on the NSE is effected electronically; from inputting an order, to processing the order, to making payment and transferring the securities to the new owners.
Dubbed as broker back office (BBO) – the system also allows clients to track and audit activities through alert messages and electronic reports.
According to Kathir Kamathan, chief executive of Chella Software, the company that built the system for the Kenya said South Africa and Singapore are markets in the world using the system.
Kamathan said the system would help build trust amongst investors.
Once fully implemented the new system would cost Sh100m.