Technology

Exchange news

Top learning on the future of African exchanges – BAFM seminar this week 19-20 April

Tomorrow (17 April) is the last day to register for the 7th Building African Financial Markets (BAFM) seminar with a top lineup to debate the future of Africa’s exchanges. It will be on 19-20 April and is organized by African Securities Exchanges Association and hosted by Nairobi Securities Exchange, Kenya.

Exchange news

Strate’s CEO Monica Singer steps down to focus on blockchain

Monica Singer, former CEO of South African CSD Strate, left at the end of August 2017 after nearly 20 years. She will concentrate full time on blockchain.

Capital raising

Vodacom Tanzania’s $213m IPO results due 7 August

Vodacom Tanzania’s extended $213 million IPO closed 28 July and results are to be announced 7 August, with the listing on the Dar es Salaam Stock Exchange due 15 August.

Exchange news

Nigerian Stock Exchange’s new Nasdaq market surveillance

The Nigerian Stock Exchange has gone live with a new market-surveillance IT platform powered by SMARTS, a solution supplied by Nasdaq.

Exchange news

Namibian SX and Bank of Namibia poised to launch paperless

The Namibian Stock Exchange and the central Bank of Namibia are working together to create a central securities depository (CSD) for equities, bonds and bills traded. They are waiting for laws and regulations to be passed to get the new system operational.

Capital raising

Vodacom Tanzania wrapping up $213m IPO on Dar es Salaam bourse

Some 40,000 Tanzanians subscribed for the TZS476 billion ($213 million) initial public offer (IPO) of Vodacom Tanzania Ltd.

Exchange news

London Stock Exchange £24.5bn merger with Deutsche Börse in doubt

There is doubt on a £24.5bn merger between London Stock Exchange and Deutsche Börse after European Commission demand that LSE sell a 60% stake in platform MTS.

Exchange news

Computers quieter,faster than open outcry

Another floor of shouting traders has just closed in New York, after CME Group closed its open outcry trading pits in New York. Trading pits continue in Chicago but much reduced. Securities exchanges used to heave with drama, excitement, noise and emotion, gradually the computers have taken over.

Capital raising

Africa IPO round-up

Roundup of some recent initial public offers (IPOs) of shares which raised capital for businesses listed on Africa’s stock exchanges.

Events

Rwanda to host 20th African Securities Association conference on 27-29 November

Rwanda Stock Exchange (RSE) and the African Securities Exchanges Association (ASEA) will host the 20th Annual ASEA Conference in Kigali, Rwanda on 27-29 November, the flagship event for Africa’s capital markets.

Capital raising

Korea Exchange success story with SMEs

The Korean Exchange (KRX) has grown to be the world’s third biggest stock exchange for listing and trading SMEs by creating a virtuous cycle in which growth generates cash-flows which in turn fuel more growth.

Exchange news

JSE switches to T+3 on 11 July

The Johannesburg Stock Exchange is switching to a shorter T+3 settlement cycle for the equity market from 11 July. Currently it works on T+5.

Capital raising

Tech will drive African IPOs

Telecoms, e-commerce and technology will be the driving force behind many of Africa’s coming initial public share offers (IPOs) as the continent’s telecom, media and technology (TMT) sector continues to grow fast.

Exchange news

DFIs hunt long-term gains in African financial services

Development finance institutions (DFIs) have made $6.5bn of investments in African financial institutions. They see long-term opportunities for gains and to catalyze development.

Other news

Bangladesh Central Bank hit for $951m, its cybersecurity relied on second-hand, $10 switches

Police investigating the heist of $951m from Bangladesh’s central bank said it was vulnerable to hackers because it did not have a firewall and used second-hand, $10 switches to network computers connected to the SWIFT global payment network. $81m is still missing after withdrawals from Bangladesh Bank’s account at Federal Reserve Bank of New York.

Exchange news

Sudan’s Khartoum Stock Exchange launches electronic trading system

Sudan’s Khartoum Stock Exchange inaugurated its electronic trading system on 24 March, which is funded by the African Development Bank.

Funds

Will Interswitch be Africa’s first $1bn tech “unicorn”?

Nigeria’s digital payments and payment card giant Interswitch Ltd could become Africa’s first tech “unicorn” or technology company valued at over $1 billion. Private equity firm Helios is aiming to exit.

Exchange news

Global community heading to World Exchange Congress 22-23 March

Momentum building ahead of the key event for the stock exchange community, the World Exchanges Congress, now in its 11th year and back in central London from 22-23 March.

Exchange news

JSE Clear gets approval from European regulator ESMA

The JSE-owned derivative central counterparty (CCP) JSE Clear has been recognized by the European Securities and Markets Authority (ESMA).

Capital raising

Mwalimu Bank shares soar as Dar es Salaam enterprise market gains momentum

The Enterprise Growth Market for small and medium size businesses is picking up momentum on the Dar es Salaam Stock Exchange and Mwalimu Commercial Bank Plc was the fourth listing on 27 November.