Home Business & Tech Rwanda Sets Bourse Automation Deadline

Rwanda Sets Bourse Automation Deadline

by Daniel Sabiiti
7:46 pm

Rwanda Stock Exchange (RSE) is expected to switch into automation/net photo

Rwanda Stock Exchange (RSE) has confirmed that by June 2018—the local bourse will go electronic in its trading business.

“So far we are implementing the process and the required infrastructure is in place,” RSE told KT Press.

For the past two years, Rwanda’s Exchange has been preparing for this advancement which has made the Capital Markets Authority eager to use automation technology in trading sessions.

Currently one of the infrastructure needed -Central Securities Depository (CSD) is being handled by the Central Bank which holds all details of investors.

“The CSD accommodates all securities both equities and debt issued in Rwanda in a book entry form. We will link it with Rwanda Stock Exchange once it is automated,” Eric Bundugu, the Acting Executive Director of CMA told KTPress earlier.

CMA said that it has been developing domestic market especially integrating it with our region bourses in Kenya, Uganda and Tanzania by harmonizing the legal framework.

“This will help accessing more capital and liquidity. We put in place a legal framework but our peers have been working on their own legal frameworks,” Bundugu said.

Rwanda has already signed 15 directives that will guide businesses in the region.

In the meantime, the local bourse stock and share index remained constant to close at 133.31 and 133.18 respectively as the trading week closed this afternoon.