South African software firm Securities and Trading Technology (STT) has been contracted by the Dar es Salaam Stock Exchange (DSE) to provide it with an upgrade of its system that will include integrated trading, clearing and settlement technology.
The DSE was in the process of moving to an automated trading system, Central Securities Depository and risk management.
“The system is intended to increase operational and financial efficiencies in trading, settlement and clearing processes,” DSE chief executive officer (CEO) Moremi Marwa told The Daily News.
Apart from introducing new products and services such as real estate investments trusts, exchange traded funds derivatives and futures, the platform will also make it possible for the DSE to introduce SMS mobile and internet trading as well as join the national payment system.
STT Managing Director Michelle Janke said: “We look forward to working with the exchange to upgrade their technology.”
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