Nairobi bourse goes digital
COMPUTINGBy BiztechAfrica - Sept. 5, 2012, 10:24 a.m.
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.
MORE COMPUTING NEWS
E-waste threatens Ghana’s beachesMany beaches in Ghana, already stressed by pollution and poor maintenance, are now facing a new threat: e-waste. Read More
African education successes in focus at eLearning Africa conferenceThe eLearning Africa International Conference on ICT for Development, Education and Training gets underway from 28 – 30 May at Speke Resort and Conference Centre, Munyonyo, Kampala, Uganda. Read More
Cloud gains traction in KenyaKenyan enterprises are increasingly seeing the implementation of cloud or expansion of existing cloud infrastructure as a key priority, says IDC. Read More
MultiChoice expands DTTV distribution in Sub-Saharan Africa on Intelsat 904Intelsat S.A. has announced that African direct-to-home operator, MultiChoice, is leveraging Intelsat capacity to expand the reach of its digital terrestrial television (DTT) offering in Sub-Saharan Africa. Read More
VMware Unleashes Horizon 6VMWare has released a comprehensive and cost effective solution to deliver and manage enterprise applications and desktops for physical, virtual and employee-owned devices. Read More
High calibre keynotes to take to the stage for Saphila 2014Saphila 2014, set for South Africa in June, will feature high caliber keynote speakers including highly sought-after international keynote speaker, Frans Johansson, CEO of The Medici Group. Read More
Huawei hosts Broader Way Forum 2014 in ZimbabweHuawei has hosted its inaugural ICT Forum in Zimbabwe, aiming to help revolutionise the way the country responds to technological advancements. Read More
SEACOM to enhance IP/MPLS networkSEACOM announced today that it has chosen Juniper and Cisco to provide their latest technology for a complete upgrade of the SEACOM global IP & MPLS network. Read More
Eurochannel launches in NigeriaEurochannel has launched in Nigeria on new paid TV provider Montage TV. Read More
Kaberuka: transparency needed on migrant remittancesThe President of the AfDB, Donald Kaberuka, has called for "greater transparency" in remittances and asked Africans to be "more competitive". Read More
FEATURED STORYKenyan bloggers get their act together
Bloggers seem to be gaining a formidable position in Kenya’s online media fraternity, reports Semaj Itosno.
BEST READ NEWS
IN DEPTHE-waste threatens Ghana’s beaches
Many beaches in Ghana, already stressed by pollution and poor maintenance, are now facing a new threat: e-waste.
COMPANY NEWSFurther African expansion for Phoenix
Phoenix Distribution, a leading broad-based distributor on the African continent, has expanded its office in Nairobi, Kenya, in a move to better serve its partners in East ...