With effect from Friday 3 July 2015, the Zimbabwe Stock Exchange will launch an electronic market to replace the current manual call over which requires Stockbrokers to convene on each trading day to conduct business (buying and, or, selling of shares) on behalf of investors.
The new electronic platform enables participants to conduct their business from various locations by accessing the Zimbabwe Stock Exchange through the internet. The automated trading system operates on agreed rules which are in-built in the system and therefore guarantees adherence to price and time priority principles in the interest of market fairness and transparency.
- Participants: The participants to the new market are all stockbroking firms who have been examined for competency and understanding of the new environment. All registered Member firms of the Zimbabwe Stock Exchange meet the requirements to participate in the new electronic market and will therefore be able to provide uninterrupted services to clients beyond the 3 July 2015 date mentioned above.
- Eligibility of Securities to be traded on the new Platform: The new platform trades securities that are dematerialised only in conjunction with services offered by Chengetedzai Depository Company. Securities not yet registered on the Central Securities Depository (“CSD”) are not eligible for trading on the ZSE’s new electronic platform.
- Securities Admitted to Central Securities Depository And To Dematerialise By 3 July 2015: All securities which have been dematerialised will be traded on the new trading platform.
- Hours of Business: The investing public is kindly requested to note the following revision to the ZSE’s operating times:
- Business Days: The market operates daily Monday to Friday except on any public holidays falling on these days.
- Market Schedule: The market schedule for each business day is as follows:
- Continuous Session (Local time): 10h00 to 12h30
- Market Closes: 12h30
