BSE’s trading on the uptick

“These three technology systems represent a modernization of the BSE’s technology infrastructure that aims to improve the resilience of the market, network security, operational efficiencies and align with international best practice in order to make the BSE competitive in the global securities market,” said Tsheole.

Tsheole is optimistic that the new systems will help BSE retain, integrate and build confidence in the market while having a big impact on the operations of the bourse.

“This is a great improvement to the BSE, the new system puts us in the same line with London Stock Exchange on technology,” said Tsheole, citing that the new system cost BSE over 10 million pula.

He highlighted that the CSD system that has been phased out was introduced in 2008, while new ATS is an upgrade of the ATS that was implemented in 2012. .

“The implementation of the new CSD system has commissioned the settlement of market transactions on the BSE at Bank of Botswana ( BoB) through the Botswana Interbank Settlement System ( BISS) which, just like the CSD system, is linked to the SWIFT network,” said Tsheole.

In addition, the CSD system comprises new functionalities and capabilities that expand its services and products such as the centralised custody for all securities in the market including government securities, electronic annual general meetings ( E- AGMs), among others.

Tsheole said the system will soon provide customers’ remote access to their CSD accounts and statements, while salient features of the new ATS include an improved request for quotation ( RFQ) mechanism which is popular for trading of bonds, a bond calculator, and availability of micro auctions which can be used for market- making, as well as improved information dissemination capabilities.