The Botswana Stock Exchange has introduced a new central securities depository (CSD) system, automated trading system (ATS) and SWIFT connectivity effective last Friday (September 23).
The three technology systems are the BSE's attempt to modernise the national bourse's technology infrastructure to improve market resilience, network security, operational efficiency, and align with international standards.
The new CSD system, which replaces the old one introduced in 2008, 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.
The new CSD system also comprises of 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).
The BSE also stated that in due course, the system will provide customers remote access to their CSD accounts and statements.
The new ATS is an upgrade of the ATS that was implemented in 2012 and includes features such as an improved Request for Quotation (RFQ) mechanism which is popular for the trading of bonds, a bond calculator, availability of micro auctions which can be used for market-making, as well as improved information dissemination capabilities. The new ATS and the CSD system are integrated.