ZSE mulls mobile share trading platform

Published: 28 September 2017

THE Zimbabwe Stock Exchange plans to introduce a mobile share trading platform before the end of the year to allow potential and existing investors easy access to stock markets.

As part of efforts to modernise the local bourse, last year the ZSE launched an Automated Trading System (ATS) that enables all transactions to be done electronically as opposed to the previous manual system.

An ATS is a computer programme that creates orders and automatically submits them to a market centre or exchange, which in the case of the local bourse is made to the Central Securities Depository.

Securities and Exchange Commission of Zimbabwe (SECZ) chief executive officer, Mr Tafadzwa Chinamo told Business Chronicle yesterday that the setting up of the mobile share trading system would allow potential and existing investors on the stock market to interact directly with activities on the bourse.

"The mobile share trading platform would allow people to have direct access to the stock market as well as easy access for people to open trading accounts, which will allow them to buy or sell shares on the ZSE using mobile devices such as smartphones, tablets and laptops," he said.

SECZ is the regulator for the securities and capital markets in Zimbabwe.

Mr Chinamo said despite the direct interaction with transactions on the ZSE, investors would still require the services of the stock brokers who still remain linked to the ATS.

"We hope the mobile share trading platform at the ZSE will be running before the end of this year," said the SECZ boss.

He said investors on the stock market would be required to open an online trading account that will be linked to their bank or mobile money transfer service platforms such as EcoCash.

"The online trading account will also run two accounts, the asset account and the cash account that will enable investors to view their shares in the asset account and cash held in their cash account after transacting," said Mr Chinamo.

Early this year, the ZSE announced that it had launched an electronic platform that offers subscribers viewing rights to the stock exchange's live trading from anywhere.

The local bourse said the electronic platform called View Only Terminals (VOTs) gives informational efficiency in the domestic capital markets.

VOTs clients will neither be able to post any trades nor to import reports (except for screen shots) from the VOTs.
- chronicle

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