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Business Reporter
THE Zimbabwe Stock Exchange is conducting two trading sessions at the ongoing Harare Agriculture Show for members of the public to get an appreciation of how it operates.
ZSE said it has set aside two days to conduct trading sessions at the agricultural expo with the first session having been conducted on Tuesday.
“Today (Tuesday) the trading session was held at the Harare Agricultural Show, to enable show goers to have an opportunity to witness real transactions and appreciate the workings of the exchange.
“On Friday 30 August 2013 . . . another session will be held at the Harare Agricultural Show,” said the ZSE chief executive Mr Alban Chirume.
He said the local bourse operates an “open outcry” systems, where brokers meet and trade on trading floor.
“It is believed to be one of the last exchanges in the world to have manual rather than electronic trading and settlement. With plans to move to both electronic trading and settlement, this will mark the end of an era,” he said.
Meanwhile, work is in progress to install an Automated Trading System (ATS) to enhance the workings of the bourse.
In July this year, Mr Chirume said five candidates (individuals and firms) that showed interest in filling the stock exchange ATS consultancy position had been shortlisted.
Candidates across the world from Africa, Europe and Asia responded to the ATS consultancy position.
The candidates were requested to provide more information regarding cost, methodologies and their capacity to undertake the consultancy.
The desired consultancy is supposed among others to assist the ZSE in the selection and tendering process of the suitable ATS vendor as well as devising methodologies, strategies and procedures for the successful implementation of the project.
It is hoped that from the ATS consultant selection will then go to the vendor selection process.
Automation of the local bourse is expected to increase daily trade from an average of $1 million to between $5 million and $6 million.
Online Reporter