Stanchart becomes settlement bank for CSD

The new system which went live yesterday at the Botswana Stock Exchange(BSE), is entirely electronic, and holds securities, transfers them, ensures their safekeeping and maintains an updated record of shares held by clients, all in paperless format.

Using its Straight 2 Bank product, Stanchart has availed to the CSD a structured Transaction Banking solution which ensures the timely and efficient settlement of shares.
Commenting on this new development, the bank's chief executive David Cutting, his company has a responsibility to contribute to the sustainable economic development of the country and is proud to be able to provide this sophisticated transaction banking solution to the Botswana capital market. "Straight 2 Bank is a cutting edge system that is proven and successful worldwide, and has been carefully structured to meet the needs of the Central Securities Depository.