Chengetedzai Depository Company, operator of the Zimbabwean CSD, has started opening accounts with stockbrokers and custodians as it makes final preparations to launch the settlement platform, says a report in a local business news wire.
Tafadzwa Chinamo, chief executive of the Securities and Exchange Commission of Zimbabwe, said that the test done on the system had proved satisfactory, reports BizDay.
The CSD will operate using the custodian model as opposed to the retail model, says the report.
Chengetedzai Chief executive Campbell Musiwa said the country’s first CSD was ready and awaiting the final regulatory approval, it adds.
According to the report, testing of the CSD is complete and it has gone live on a partial basis.
Zimbabwean CSD Completes Testing
Chengetedzai Depository Company, operator of the Zimbabwean CSD, has started opening accounts with stockbrokers and custodians as it makes final preparations to launch the settlement platform, says a report in a local business news wire.
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