The Lusaka Securities Exchange has launched a new state of the art, trading, clearing and settlement system, which went live on 18th December 2017 provided by Securities and Trading Technology, a leading technology solutions provider.
The new trading system greatly enhances the LuSE’s profile as a dynamic and fast developing market, equipped to meet the challenges and technological needs of an increasingly complex local and international capital market environment.
LuSE Chief Executive Officer Priscilla Sampa said although in its infancy, the updated system has been running in parallel the legacy trading platform.
Mrs. Sampa said the new system will support trading and settlement for new instruments such as ETFs, fixed income (corporate and government bonds), commodities on the spot market and depository receipts.
She said the new system will also provide for multi-asset trading and clearing facilities including Derivatives
“Provision to both institutional and retail investors of full order management and order placing capacity, coupled with real-time access to market data, as well as third party prices on a FIX feed will also be provided,” Mrs. Sampa said.
Mrs. Sampa said other features include Direct Market Access which allows investors to trade on the Exchange via web/browser interface with approval of their brokers and Investor access to CSD Accounts online, as well as receipt of Accounts Statements by email.
The LuSE’s new CSD system is SWIFT compatible with the capability of communicating with other CSD’s, Settlement Banks, Participants, Central Bank Payment System or RTGS.