New hi-tech platform doubles BSE trade :: Mmegi Online

The chief executive officer of the Botswana Stock Exchange (BSE) has said that the number and value of deals on the bourse have doubled since the introduction of state-of-the-art Automated Trading System (ATS) in August.

At the ATS launch yesterday, Hiran Mendis said that daily turnover is now averaging P4.02 million up from P2.67 million prior to the advent of the new system. In addition, 1,248 deals have been sealed in the two months after the August 24, compared to 471 in the month leading to the introduction of ATS. "These are early days yet, but it appears the ATS is starting to take effect," Mendis told journalists yesterday.

"For it to take full effect, the brokers and other market participants must come to grips with the system and understand how to use its functionalities. Trading is still about relationships between participants. The ATS enhances liquidity by facilitating these relationships," he explained.

Already have an active account? Log in here.

Or Sign up and get unlimited access to premium articles.