According to reports by the Kenyan Wallstreet, the Nairobi Securities Exchange (NSE), is currently in the process of installing a new trading system.
The trading system, purchased from the United Kingdom’s MilleniumIT for a sum of 110 million Kenyan Shillings.
According to the Nairobi Securities Exchange (NSE), the new system will lead to an increase in liquidity through the multiplying of transaction volumes as well as attracting more retail investments.
The management of the Nairobi Securities Exchange (NSE), made it known that the new trading system will lead to liquidity improvements through same-day settlements. Previously, it would take about 15 days to receive payments previously and up to three days for investors to receive their securities.
In addition, the new system will facilitate mobile-based trading by authorizing third party app integration in order to enable investors to trade over mobile phones.
Chief Operations Officer of the Nairobi Securities Exchange (NSE); David Wainaina stated that M-Akiba has shown that the incorporation of mobile trade, attracts potential local and retail traders to the bourse.
The new trading platform will in addition, expand retail investments by allowing for multi-asset and multi-currency trading.
The Nairobi Securities Exchange (NSE) was first established in 1954 as the Nairobi Stock Exchange.
Based in Nairobi which is the capital of Kenya, was a voluntary association of stockbrokers in the European community registered under the Societies Act in British Kenya.
The Nairobi Securities Exchange (NSE), currently has 1.4 million local investors in its database, with 100,000 being active traders.
