Published: 29 August 2013

The Zimbabwe Stock Exchange is pressing ahead with its plans to put in place an automated trading system to go live in the first quarter of 2014, said ZSE CE Alban Chirume.
 
"This week the exchange finalised its appointment of Central Depository and Settlement Co. of Mauritius Limited (CDSM Ltd) as its consultant for the automated trading system (ATS) project," he said.

CDSM Ltd operates the securities central depository in Mauritius and also provides ICT services to Stock Exchange of Mauritius.

Chirume indicated that the request for expressions of interest for the consultancy role attracted a lot of interest from ICT professionals in Zimbabwe, South Africa, East Africa, Mauritius, South Asia and Europe.

"The ZSE carried out a thorough selection process to identify a short list of 5 from the initial 18 applicants and ultimately three were invited to come to Harare and present their proposals.

"From this process CDS Mauritius emerged as our choice of consultant to help us with the automation project," he said.

He also stated that CDS Mauritius has visible footprint in the automation projects carried out elsewhere in Africa.

The consultant is expected to review business processes of the ZSE, prepare a Request for proposals, advise the ZSE on the process of vendor selection and prepare the system for implementation.

Chirume added that the automated trading system is very significant to the ZSE in terms of the expected impact and also very delicate as it involves all stakeholders and how they conduct their business.

- zfn

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