The Nairobi Securities Exchange is preparing to test its newly acquired Automated Trading System (ATS). The exchange will conduct mock trading sessions and disaster recovery assessment protocol on Saturday 14th September and 21st September in readiness for launching the upgraded system.
In August, NSE acquired a new trading system worth KSh110 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 which was purchased over two decades ago.
The Automated Trading System is expected to attract more investors to the exchange and subsequently increase trading at the Nairobi bourse.
NSE will also test the new CDSC System. 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.