Oliver Kazunga, Senior Business Reporter
THE Zimbabwe Stock Exchange (ZSE) has launched an electronic platform that offers subscribers viewing rights to the stock exchange’s live trading from anywhere.
ZSE said the electronic platform called View Only Terminals (VOTs) gives informational efficiency in the local capital market.
“The ZSE advises that as part of efforts to improve informational efficiency in the local capital market, it is launching VOTs.
“VOTs are in actual essence viewing rights to ZSE’s live trading on the Automated Trading System (ATS),” it said in a statement.
“The ZSE will grant clients a username and password which will enable them to log in to the ATS and be able to watch trading during normal market hours from the comfort of their homes or offices.”
The bourse said VOTs clients will neither be able to post any trades nor to import reports (except for screen shots) from the VOTs.
“VOTs will be availed to any willing subscriber with the option for the subscriber to be configured under a stockbroker of their choice or directly under ZSE.
“In line with the ZSE Market Data Policy, subscribers will have a 30 days’ free trial period after which they will be subjected to the relevant data fees,” it said.
Last year, the ZSE launched the ATS that enables all transactions to be done electronically from the previous manual system.
An ATS is a computer programme that creates orders and automatically submits them to a market centre or exchange; in this case, the submissions will be made to the already Central Securities Depository CSD.
ATSs can be designed to trade stocks based on a predefined set of rules, which determine when to enter an order, when to exit a position and how much money to invest in each trading product.
Across the world, countries with active capital markets have the CSDs to provide custody and record-keeping services, which assists in attracting capital and making their economies more vibrant.