NSE withstands shocks of ongoing political temperatures

Support by local fund managers has seen the Nairobi Securities Exchange (NSE) withstand the shocks of the ongoing political temperatures with current trading volumes expected to sustain the exchange to the end of the year.

NSE’s Derivatives Market Director Terry Adembesa says an upgrade on the automated trading system will further enhance trading by among others, removal of pre-validation of sale orders to support securities lending and borrowing on any counter.

After taking a nosedive and losing up to 130 billion shillings of capital following the nullification of the Presidential election by the Supreme Court early this month, NSE has since regained its footing with year on year market turnover currently up by 14 percent.

Mr. Adembesa says support by local fund managers means NSE already has trading volumes that can sustain it to the end of the year.

To enhance trading, Adembesa says an upgrade on the automated trading system will among others incorporate a public board where traders can express interest to buy and sell shares on any counter, allow for system developers to plug in and make upgrades on the system, and a buy in board where traders can source for shares from third parties.

SBG Securities, the brokerage subsidiary of Stanbic Holdings launched a mobile based USSD share trading platform on Tuesday dubbed M-shares where investors can buy and sell shares directly at the NSE and access real time market information.

NSE is also currently in the process of developing a mobile based App trading platform.

 

  

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