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TMCNet:  Software Enhances Efficiency At Dar Bourse

[July 08, 2014]

Software Enhances Efficiency At Dar Bourse

(AllAfrica Via Acquire Media NewsEdge) BUSINESS at the Dar es Salaam Stock Exchange (DSE) is set for a big boost after installation of a new software designed to improve efficiency and activities at the bourse significantly.

The Dar bourse rolled out a new integrated trading, clearing and settlement technology installed by a South Africa's Securities and Trading Technology firm that enabled migration from an old system to the Automated Trading System (ATS) and Central Securities Depository (CSD) late last month.


The DSE Chief Executive Officer, Mr Moremi Marwa, told the 'Business Standard' in an interview that the introduction of the system was expected to increase efficiency and activities.

It will enhance settlement risk management at the bourse through allowing access, the National Payment System via SWIFT, he added. "It means we are truly implementing the delivery and payments of securities and cash in a seamless manner -- this is in line with IOSCO Principles in which we are a signatory," he said.

He said the new multifunctional system would allow the bourse to integrate with other East African Exchanges and accommodate new financial products it plans to launch in the near future.

DSE plans to launch Real Estate Investment Trust (REITs), derivatives and futures, Exchange Traded Funds and Commodities trading. It also aims to increase the accessibility via mobile, internet and SMS trading facilities.

Last year DSE moved into the Wide Area Network (WAN) to enable bourse members access its two systems remotely from anywhere. And with the new system, the bourse had reduced settlement cycle and extended trading hours.

"This is in line with our strategy of becoming a more efficient institution... migrating to the new system evolves and supplements such initiatives and actions," he said.

Furthermore the system is more efficient, it is more scalable and flexible, which is in line with our strategic intent of introducing new products and increasing accessibility to our system through the use of mobile, internet and SMS trading facilities.

He said the new initiatives were already paying off as the bourse has registered significant improvement of trading activities, where over the past 12-months trading in equities has increased five folds from the historical average annual turnover of 50bn/- to a turnover of more than 270bn/-.

"In addition to such benefits, the system is cost effective compared to the old system -- this will enable the Exchange to achieve its financial sustainability intent," he said. The Dar bourse went live on June 27, with the new integrated trading, clearing and settlement technology.

The bourse pulled off this amazing feat within only eight weeks after signing a contract with South Africa's IT company, Securities and Trading Technology (STT).

STT Managing Director, Michelle Janke, said the Tanzanian exchange had become her company's third exchange to go live using its integrated exchange solution. Furthermore, Tanzania was STT's first African exchange to go live with its equities platform, as well as its central securities depository system. View the discussion thread.

Copyright Tanzania Daily News. Distributed by AllAfrica Global Media (allAfrica.com).

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