Dar es Salaam Stock Exchange: 8 weeks to launch new African trading system and CSD
After a high-speed 8 weeks installation, Dar es Salaam Stock Exchange (DSE) successfully “went live” on 27 June with an integrated trading system and clearing and settlement technology supplied by South Africa’s Securities and Trading Technology (STT).
Dar es Salaam Stock Exchange chief opens trading on the London Stock Exchange
The CEO of Tanzania’s Dar es Salaam Stock Exchange opened trading on the London Stock Exchange on 27 Jan alongside UK Secretary of State for International Development, the Rt Hon. Justine Greening MP. LSE Group signed a MoU with the Department for International Development to work on capital markets development across sub-Saharan Africa.
World Federation of Exchanges moving to London
London’s role as the world centre for securities exchanges and finance got a further boost last night (29 October) when the World Federation of Exchanges voted to move its headquarters to London from Paris before the end of this year.
Good news for investors on London’s AIM mid-cap market
Fortunes improved for investors in companies on the London Stock Exchange’s Alternative Investment Market (AIM) market, according to a report by Deloitte examining listings and de-listings for 11 months to November.
Botswana Stock Exchange launches automated trading
Months of hard work came to a climax when the Botswana Stock Exchange successfully launched its automated trading system (ATS) and now has live trading. This replaces the open outcry trading system and the aim is to make the BSE more visible and trading more efficient.
Strategy – NYSE Euronext and Deutsche Borse turn to technology and new targets
Mega-mergers and competition continues among the world’s biggest exchanges, despite the move by European regulators to ban Deutsche Börse (DB) and NYSE Euronext (NYX) from forming the world’s biggest exchange. Both are stepping up activities in selling exchange technology and looking at other new directions.
Tanzanite miner Richland heads for Dar-es-Salaam bourse listing
Tanzanians are to be able to invest in the gems that bear their country’s name, tanzanite. Richland Resources Ltd, listed on the London Stock Exchange’s AIM market says that it plans listing at the Dar es Salaam Stock Exchange by April, according to local press reports.
Is lack of liquidity driving African issuers to list on London Stock Exchange and others?
Reuters newsagency has put together stories on issuers’ and investors’ difficulties with African stock markets. These include lack of liquidity and sinking currencies. It notes that African companies are increasingly dual listing on international stock exchanges.
Tullow Oil listing to double value of shares on Ghana Stock Exchange
Tullow Oil plc is to start trading on the Ghana Stock Exchange on 27 July after allocating 3,531,546 ordinary shares of 10p each in a successful offer. The company says this is the largest primary share offer completed on the GSE and will more than double the market capitalisation.
Wind of change blows world markets, African stock exchanges unruffled
I have the honour to be published on the opinions section of the Royal African Society website and the article can be seen along with their excellent blogs I also reprint the article, which is meant to spark debate, and I welcome your comments – is it time for change and what is the way forward?
Why African investors use Depositary Receipts?
Many foreign investors have investments in Africa but hold them in international custody in the form of Depositary Receipts, usually known as “American” (ADRs) if issued in the US, “Global” (GDRs) in London and there are DRs in several other countries including South Africa (SADRs). This article explains how they work.
London Stock Exchange scores on African listings
The London Stock Exchange has long been a global centre for capital, particularly where African investments are concerned. It is also the world centre for Eurobonds and several leading African equities are traded in London.
Nigerian bank’s $0.5 bn high yield eurobond
Nigeria’s Guaranty Trust Bank is coming to the market with a $500 million Eurobond, which may roll out into a $2 billion offering. The bank is listed on the Nigerian and London Stock Exchanges.
London and Johannesburg stock exchanges migrate to Millennium Exchange system
The main trading platform of the London Stock Exchange was successfully switched from the previous system yesterday (14 Feb) to the Millennium Exchange computer system. Africa’s biggest exchange, the JSE Ltd announced on 3 Feb that it had concluded a licensing agreement with MillenniumIT to move its equity market trading activity onto Millennium Exchange, planned for the first half of 2012. Millennium IT’s systems are widely installed in African stock exchanges.
London Stock Exchange sets love date for switch to MillenniumIT system
The London Stock Exchange is hoping for some love from traders, by announcing 14 February – Valentine’s Day – as the date to switch to anew system for its main SETS trading platform to systems provided by its subsidiary, MillenniumIT. The switch was delayed after a 2-hour outage on 2 November on the LSE’s Turquoise pan-European multi-lateral trading facility, already using technology provided by MillenniumIT.