Nairobi Stock Exchange In Kenya To Go Electronic In September

The Nairobi Stock Exchange (NSE) will launch an electronic order matching system at the beginning of September. A spokesman for Standard Bank in Nairobi says the new system will be more transparent than the current "open outcry" system it will

By None

The Nairobi Stock Exchange (NSE) will launch an electronic order matching system at the beginning of September.

A spokesman for Standard Bank in Nairobi says the new system will be more transparent than the current “open outcry” system it will replace.

The electronic system will eliminate the possibility of insider trading and will enable the NSE to increase the number of trading hours and widen the daily limits on equity price movements from 10 per cent to 20 per cent. The electronic system was acquired from Millennium Information Technologies in Sri Lanka.

According to the spokesman from Standard Bank, the system will put the NSE on a par with other modern trading systems in the world, and is part of a modernization programme started in 2004.

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