MOCK UP

NSE to test upgraded IT system for equity market

In Summary

• The system is inter-operable with the Central Depository System, a government bonds system and brokers’ back-office systems (BBO).

• The current system being used by the exchange was installed in 2006.

An investor looks at the digital board at the Nairobi Stock Exchange(NSE)/FILE
An investor looks at the digital board at the Nairobi Stock Exchange(NSE)/FILE

The Nairobi Securities Exchange (NSE) will this weekend conduct final mock run on its upgraded Automated Trading System (ATS) for the equity market ahead of full commissioning.

In a statement, the NSE said the system is inter-operable with the Central Depository System, a government bonds system and brokers’ back-office systems (BBO).

‘’Please take note that the both NSE and CDSC will be simulating disaster recovery scenarios during the trading session. Further, be advised that the BBO will be tested, hence trader operators should be present,’’ the statement read

 

The bourse has issued the day’s programme which will start at 8.45 am to 2 PM. Some of the mock activities for the day include pre-trading, opening auction call, and regular trading.

last month, NSE acquired a new trading system worth Sh110 million from MilleniumIT, a company that specializes in electronic trading systems, and systems integration services.

The decision to buy a new electronic system was inspired by the frequent hitches on the current platform. 

The platform will allow investors to perform same-day settlements which is quite efficient for stock market players. Additionally, traders will be able to conduct securities transactions on their mobile phones.

The Automated Trading System is expected to attract more investors to the exchange and subsequently increase trading at the Nairobi bourse.

The old system was installed in 2006 and is already linked to the brokers’ back-office systems, the central bank’s system for treasury bonds trading and the Central Depository System, which stores all shares in electronic accounts.