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Stockbrokers on the Zimbabwe Stock Exchange are currently undergoing training on the automated trading system (ATS), an official has said. Securities and Exchange Commission of Zimbabwe CEO Tafadzwa Chinamo said that the training marks further progress on the setting up of the ATS on Zimbabwe’s capital markets which should be fully operational in six months.
Pakistani trainers who arrived in the country last week have since commenced training stockbrokers on the operations of the ATS.
“The first training took place last Friday at Mandel Training Centre and it was well attended. In terms of the presentation those who were there, the brokers and the institutional investors really found it useful. So that is the first step, what they are going to do is then install the system.
“The guys from Infotech have been here two weeks now. There are five of them and they are very senior people and they take things very seriously. According to their timetable it should take six months for us to be fully on, but in that six months they will start with the people most affected who interact with the system most,” said Chinamo.
Earlier in March this year, the ZSE announced that it had signed an agreement with Dubai-based Infotech Middle East for the supply and installation of an automated trading system.
Chinamo said the ATS will bring convenience to traders and investors because of increased security and efficiency.
“It’s a paradigm shift, the fact that you can trade from your office is very key, you can also see all the trades going through and the ease of which these trades are going through is also a big step forward. The security features are big, with this platform you will be able to come down from the seven day ceremony platform to even three days and our aim is two,” he said. — BH24
Bongani Ndlovu