DSE to adopt new regional trading reforms

Mr Kitua
The Dar es Salaam Stock Exchange (DSE) in collaboration with other nine bourses in the Southern African Development Community (SADC) will adopt computer based platform to increase effectiveness of trading activities.

The DSE Chief Executive Officer, Mr Gabriel Kitua, said in an interview over the weekend that the programme will witness transformation of cross border transactions currently done manually to computerised systems. 

“The computer based system will allow replacement of the use of fax machines for completing cross border transactions, thus increasing trading effectiveness,” he said.

The Committee of SADC Stock Exchanges (CoSSE) has agreed to concentrate on six priority areas in support of regional moves to more efficient capital markets. 

For example, to attain real market development, the CoSSE has been developing models for inter-connectivity between automated trading systems at some or all member exchanges.

The working committee in this area will help member exchanges ensure their clearing and settlement systems comply with new global standards and support regional initiatives. 

On Capacity-building and visibility, it aims to liaise with member exchanges, regulators, stockbrokers, investors and others to develop and co-ordinate training courses.

He said the stock exchanges will explore ways to use technology to link their trading and order systems and work together to ensure clearing and settlement systems align with global standards adopted in April. 

The bourses are working closely with SADC institutions to support development of regional systems, including payment and will boost visibility of trading data and enhance their joint website launched in April by the JSE and I-Net Bridge.

The stock markets will also pool resources to accelerate training and skills development for capital markets staff. The markets are the channel for long-term risk capital, which is urgently needed for the region’s businesses, infrastructure providers and even governments.

They also encourage saving and investment as CoSSE members are working closely together to support SADC initiatives and to make individual markets even more effective. The CoSSE members are the Dar es Salaam Stock Exchange of Tanzania, Botswana Stock Exchange, Malawi Stock Exchange, Stock Exchange of Mauritius, Bolsa de Valores de Mocambique, Namibian Stock Exchange.

Others are the South Africa’s JSE Ltd, Swaziland Stock Exchange, Zambia’s Lusaka Stock Exchange and the Zimbabwe Stock Exchange. The CoSSE was set up in 1997 as a collective body of the stock exchanges in the SADC members.
Source: The Daily News,http://www.dailynews.co.tz, reported by Sebastian Mrindoko

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