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Business Reporter
The Zimbabwe Stock Exchange (ZSE) yesterday launched a new online trading platform that is targeted at retail or individual investors.
The new official platform, ZSE Direct, is an online trading platform that will enable users to access the market remotely without going through a stockbroker which has been the traditional way of investing on the stock market.
ZSE Direct, which can be accessed through a web portal, will give investors access to the market for trading; their individual portfolios as well as market information.
The ZSE describes the platform as “a fast easy-to-use web” and “mobile platform tailored to one’s device.”
The new platform will also see investors invest from as little as $500, according to the ZSE.
Speaking at the virtual launch, ZSE chief executive officer Justin Bgoni said the new platform will help investors have control over their investments.
He said ZSE Direct will enable retail investors to match their orders with what is on the market, a feature which was previously available to stockbrokers only.
In a press release, the ZSE said the trading platform is meant to make accessing the market very simple for first time investors but yet allow them to experience the full investment process of having their own stockbroking account and their own CSD account.
“Only Zimbabweans with valid IDs and Zimbabwean bank accounts will be able to register on the platform in the initial phase,” reads part of the statement.
Meanwhile, trading was subdued for the second consecutive day yesterday with trades worth just $9,7 million being conducted.
This ranks as one of the lowest daily turnover this year, according to official statistics.
The bulk of the invested funds amounting to $4,3 million went into Delta while Innscor and SeedCo got just above $1 million worth of investment.
Share price movement was also marginal with the All Share Index shedding 0,11 percent to the 1,646.36 level.
This reflected a largely mixed day with 15 losers and 13 risers. Clothing retailer Truworths led the decliners with a 9,44 percent slump to close the day at 16,30 cents while NMB led the 13 gainers with a 6,67 percent jump to close at 320 cents.
Online Reporter