The Nairobi Securities Exchange (NSE) is preparing to test its newly acquired Automated Trading System (ATS) on Saturday, September 14, at its Headquarters.
The updated system would allow the bourse to finally roll out its derivative products and liquidity tools like securities’ lending and borrowing.
The exchange will also conduct mock trading sessions and disaster recovery assessment protocol in readiness for launching the upgraded system.
The new trading system was acquired at a price worth Ksh110 million from MilleniumIT, a company that specializes in electronic trading systems, and systems integration services.
According to NSE boss Geoffrey Odundo, the decision to buy a new electronic system was inspired by the frequent hitches on the current platform which was purchased over two decades ago, and was coupled with the Central Depository & Settlement Corporation (CDSC) platform, meaning that any problem on either, affects trading.
“This will allow us to trade new products and reduce the dependency risk we have in the coupled environment in the system with the depository.” Said Odundo.
The Automated Trading System is expected to attract more investors to the exchange and subsequently increase trading at the Nairobi bourse.
