Zimbabwe Stock Exchange launches automated trading system

stock-exchange- McIekAutomation offers security in business transactions, according to Mushanguri. (Image source: McIek)The Zimbabwe Stock Exchange (ZSE) has launched its automated trading system that will enable all transactions to be done electronically from the previous manual system, according to Lina Mushanguri, ZSE, business development executive

Mushanguri told delegates at the forum that the ZSE has been one of the few remaining stock exchanges in the world which has been trading manually to the disadvantage of investors and shareholders on the country's stock market.

"Our automation was launched on 6 July 2015. Automation is no longer a competitive advantage for any capital market, but a necessity for investors. Benefits to investors include additional comfort, security, less human intervention in business transactions and is part of best practice," said Mushanguri.

She added that the ZSE was opened in 1896 and was only operational for about six years.

The exchange went on to close in 1924 after World War two and a new one was opened in the city of Bulawayo with operations starting in 1946.

"The second floor opened in Harare in 1951 and trading between the two centres was through telephone," Mushanguri added.

She continued that this second floor was in operation until it was decided that legislation should be enacted to govern the rights and obligations of both members of the exchange and the general investing public.

According to Rodney Ndamba, chief executive of INSAF, the shareholders and investors forums conducted by his organization seeks to foster transition towards sustainable and responsible investing in Zimbabwe.

Ndamba said that the recent forum is the third shareholders and investors forum.

"Companies in Zimbabwe need to balance today's profits with tomorrow's sustainability,' Ndamba said.

Wallace Mawire

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