Over 10 years we help companies reach their financial and branding goals. Maxbizz is a values-driven consulting agency dedicated.

Gallery

Contact

+1-800-456-478-23

411 University St, Seattle

maxbizz@mail.com

Nairobi Securities Exchange to invest Sh200m in trading platform upgrade – african markets

The Nairobi Securities Exchange (NSE) plans to invest Sh200 million in improving its trading software next year, giving it room to introduce new market products.
 
The exchange has, over the years, invested millions in upgrading its trading systems to cater to new products such as derivatives and day trading.
 
Trading software is one of the exchange’s key assets, backing its role of linking stock buyers and sellers, producing market data, and oversight the market.
 
“We are going to refresh our technology in 2023 at a cost of Sh200 million,” said NSE chief executive Geoffrey Odundo.
 

 
In February last year, the NSE said it was upgrading its trading platform to provide a virtual network software to link it to the Central Depository and Settlement Corporation (CDSC) and traders.
 
The NSE said it was replacing the Multi-Protocol Label Switching network that had been used since 2011 with the Software-defined Wide Area Network supported by Safaricom.
 
In October 2019, the bourse rolled out its biggest upgrade of the automated trading system up to that point, a move that was meant to address a series of market outages that were hitting the exchange.
 
The ATS connects remotely to stockbroker offices, allowing them to trade from the comfort of their premises. It first went live in September 2006, replacing the open outcry system that had been used in trading for years.
 
The 2019 upgrade also allowed the NSE to operate independently from the CDSC during trading hours, meaning that a system outage or problem at the depository would not halt trading in the market.
 
It is also able to support multiple products in the market, which is critical at a time when the NSE is introducing new products such as short selling or share lending and borrowing, market making, and day trading.
 
It also allows for scaling upwards in terms of capacity, such as the upgrade that is now planned for 2023. The technology upgrade is among the investments the bourse operator has lined up in the near term.
 
The company is also eyeing stakes in regional stock exchanges in a growth and diversification strategy.
 
MARKET STATUS: CLOSED
KENYAN SHILLING (KES)


By using our website, you agree to our use of cookies. Learn more
Cookies are short reports that are sent and stored on the hard drive of the user’s computer through your browser when it connects to a web. Cookies can be used to collect and store user data while connected to provide you the requested services and sometimes tend not to keep. Cookies can be themselves or others.
There are several types of cookies:
So when you access our website, in compliance with Article 22 of Law 34/2002 of the Information Society Services, in the analytical cookies treatment, we have requested your consent to their use. All of this is to improve our services. We use Google Analytics to collect anonymous statistical information such as the number of visitors to our site. Cookies added by Google Analytics are governed by the privacy policies of Google Analytics. If you want you can disable cookies from Google Analytics.
However, please note that you can enable or disable cookies by following the instructions of your browser.
Copyright © 2021 AM Investor Services SPRL. All Rights Reserved.
Subscribe to our Newsletter
 
Get the latest insights, stories and trends straight to your inbox.
 

source

Author

admin

Leave a comment

Your email address will not be published.