Parliament has passed the Securities Central Depositories Bill 2008 that will
mandate the Uganda Securities Exchange to introduce electronic trading and
settlement.
New platform speeds up the process of integrating the regional stock exchanges. The Uganda Securities Exchange can move on par with neighbouring exchanges.
The Securities Central Depositories Bill 2008 also makes provision for minimum standards of operation, and prescribes penalties for any offences to ensure that investors are protected.
The central depository will be operational by March 2009.
L.D.