This archive report was first published on 23 August 2019.
On August 23, 2019, the Nairobi Securities Exchange (NSE) embarked on a major upgrade of its trading platform, investing Sh 110 million in a new system from UK's MilleniumIT.
The new platform aims to increase liquidity by multiplying transaction volumes and attracting more retail investments. According to NSE management, the system will lead to liquidity improvements through same-day settlements, a significant improvement from the previous 15-day payment processing and up to three days for investors to receive their securities.
The upgrade also enables mobile-based trading by integrating with third-party apps, allowing investors to trade over mobile phones. NSE Chief Operations Officer David Wainaina cited M-Akiba as an example of mobile trading's potential, noting that it has attracted local and retail traders to the bourse. Currently, only 100,000 out of 1.4 million local investors on the NSE database are active traders.
The new platform will also expand retail investments by allowing for multi-asset and multi-currency trading.
