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| 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 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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