Technology

Exchange news

Direct market access links West Africa securities exchanges

The framework for linking West African securities exchanges starts with direct market access (DMA). A stockbroker on one West African exchange can transact on the Nigerian market through the system of an approved Nigerian stockbroker.

Exchange news

Nairobi Securities Exchange CEO Peter Mwangi moves to Old Mutual Kenya

The well-respected CEO of the Nairobi Securities Exchange, Peter Mwangi, is to take up a new job as Group CEO at insurance company Old Mutual Kenya with effect from 1 October.

Exchange news

Zimbabwe stock exchange moving to electronic trading and CSD

Electronic trading is coming to Zimbabwe Stock Exchange under a contract with InfoTech Group, and Chengetedzai Depository Company Ltd says 3 listed companies will be electronic from 8 Sept.

Other news

Visa helps towards remittance target cost of 5%

On average Africans paying up to 12.4% ($25) to send $200 home, twice the global average. The fees cost Africans an estimated $1.8 billion a year, according to UK thinktank Overseas Development Institute.

Exchange news

Dar es Salaam Stock Exchange: 8 weeks to launch new African trading system and CSD

After a high-speed 8 weeks installation, Dar es Salaam Stock Exchange (DSE) successfully “went live” on 27 June with an integrated trading system and clearing and settlement technology supplied by South Africa’s Securities and Trading Technology (STT).

Capital raising

Stock exchange experts urge focus on small and medium enterprises

An international panel of securities exchange experts has set up a task force to help securities exchanges raise capital for small and medium-size enterprises (SME), including the possibility of establishing a specialized SME exchange.

Exchange news

Dar es Salaam Stock Exchange switches technology provider

The battle for stock exchange technology in Africa heats as Dar es Salaam Stock Exchange switches its trading, clearing and settlement to South Africa’s Securities and Trading Technology (STT).

Events

Free masterclass in funding sources for capital markets development (9-10 April)

Two leading securities exchange experts are offering a free masterclass in funding sources for capital markets development in New York on 9-10 April. They will overview funding sources and how to apply for projects for securities exchanges, securities regulators and clearing and settlement.

Exchange news

Dar es Salaam Stock Exchange boosts operations and incomes

The Dar es Salaam Stock Exchange made operational improvements in 2013 including doubling trading hours, reducing settlement times on equities and bonds and introducing a wide-area network (WAN). Turnover soared five-fold to $156 million compared to 2012.

Capital raising

“Dear Kwame..” an email from 2063 by the Chairperson of the African Union Commission

What will Africa look like in 2063? Nkosazana Dlamini Zuma, Chair of the African Union (AU) Commission, published her vision in an “an email from the future”.

Exchange news

Safeguarding investments – custody banks spur growth of African capital markets

Giant inflows of investment capital to the African markets is spurring an increase in the banks offering custody services, but global players are held back by differences in infrastructure and legal structures and practice.

Funds

DPI private equity fund raises $400m

A leading African private equity house Development Partners International (DPI) has reached the first close of its second pan-African African Development Partners II (ADP II) fund at over $400 million.

Cote d’Ivoire

$183bn of M&A in Africa in last 10 years, Britain leads

The total value of mergers and acquisitions deals in Africa by foreign investors was $183 billion over the ten years 2003-2012, up threefold on the previous decade. Britain was the lead investor with with 437 deals worth $30.5bn.

Exchange news

Zimbabwe Stock Exchange launches great investor relations (IR) drive

Congratulations to the Zimbabwe Stock Exchange on its excellent new website, including a very useful listed companies’ data terminal, including annual reports, charting, trading and other data. Good work by the ZSE team and Rob Stangroom at African Investor Relations.

Exchange news

Africa’s bourses should work together to channel investors

Africa’s 24 stock markets should learn to work together better if they are to seize high levels of investor interest, said Nicky Newton-King, CEO of South Africa’s JSE Ltd. She told an interviewer that plumbing, – technology and other links between exchanges and clearing and settlement – were more likely routes to more liquidity than trying to create a single exchange.

Exchange news

Botswana Stock Exchange launches automated trading

Months of hard work came to a climax when the Botswana Stock Exchange successfully launched its automated trading system (ATS) and now has live trading. This replaces the open outcry trading system and the aim is to make the BSE more visible and trading more efficient.

Exchange news

SADC stock exchanges work together towards links, shared skills and better visibility

The ten stock exchanges of the Southern African Development Community (SADC) are working together to increase the effectiveness of their markets. The Committee of SADC Stock Exchanges (CoSSE) has agreed to concentrate on six priority areas in support of regional moves to more efficient capital markets.

Exchange news

Nigerian Stock Exchange to roll out top-speed NASDAQ OMX trading platform

The Nigerian Stock Exchange says it will have the fastest trading system in Africa when it upgrades its trading to NASDAQ OMX Group’s X-Stream platform, with a target date of second quarter of 2013. The new system will handle a wide range of instruments.

Exchange news

BaDEx getting ready to launch as Zambia’s second securities exchange

A new securities exchange in Lusaka, BaDEx (Bonds and Derivatives Exchange Zambia) is installing tried-and-tested bond and derivative trading software from South Africa’s STT Software, which supplies the JSE, and says it will be ready to launch operations next month, May 2012. BaDEx trading platforms will include spot and derivative trading in bonds, currency, commodities (such as derivatives on metals and silo certificates on the spot market) and a variety of other derivatives including agricultural commodities, precious metals, equity and energy.

Capital raising

JSE seeks more African equity listings in 2012, targets telecoms, mining and financials

The JSE Ltd, South Africa’s securities exchange, is hoping to attract more listings from the rest of Africa in 2012 and to expand its range of products and services. This year should also see the JSE installing its equity trading system in Johannesburg, to avoid dependence on a transatlantic cable connecting it to the London Stock Exchange.