Finsec upgrading and putting in automation tools

01 Sep, 2017 - 00:09 0 Views
Finsec upgrading and putting in automation tools

eBusiness Weekly

Nelson Gahadza
The Financial Securities Exchange (Finsec) has said it is introducing automated tools aimed at enhancing user experience when trading on the alternative trading platform (ATP). The securities exchange was established to harness and facilitate electronic trading of a wide variety of securities, with a view to formalise marginalised market segments and bring alternative trading activities onto a central and organised market place.

Old Mutual Zimbabwe Limited (OMZIL) pioneered trading on the Finsec platform last year and, under its indigenisation plan approved by Government, the group issued just over 83 million shares (or 25 percent) as B Class shares to employees 11 percent, pension fund, 3,5 percent strategic partners and 2.5 percent to the Youth Empowerment fund.

Head of Trading Operations Blessing Chipfunde said the company intends to soon introduce USSD and smart-phone applications to facilitate mobile trading for retail investors.

“Finsec is concluding preparations on a programme aimed at enhancing user experiences across the board. We will also be availing an online portal and an Order Management System for online trading by retail and institutional investors respectively,” he said.

Chipfunde added that at the dealer-end, Finsec will be pushing a Broker Office, a complete broking solution which will be connected to a trade router to enable brokers to harvest mobile and online deal traffic for seamless through-put to the Automated Trading System.

He highlighted that automation tools will be supplied by its sister company, Escrow Systems, which has also been appointed by the Securities Exchange Commission of Zimbabwe (SecZim) to provide the tools to the Zimbabwe Stock Exchange (ZSE).

According to Chipfunde, cumulative volumes moved during Q2 2017 on the ATP have reached 1,189,423, up from 902,431 as at 31 March 2017. Meanwhile, Finsec is also part of an ongoing SecZim investor education campaign aimed at bringing awareness to the public on investing on the capital markets, under the tagline ‘What’s Your Hustle’.

 

Share This:

Sponsored Links

Survey


We value your opinion! Take a moment to complete our survey

This will close in 20 seconds