The electronic trading of shares on the Zimbabwe Stock Exchange (ZSE) will begin on July 3 after the completion of the automation project, the bourse said yesterday.
BY TATIRA ZWINOIRA
ZSE chief executive officer Alban Chirume told journalists that infrastructure development had been completed including the disaster recovery site.
“The major element we were doing was to try and create a data centre which will house all our servers, hardware and disaster recovery centre,” Chirume said.
“We are working on the data centre and the next element we are working on is the interface between ourselves and the Chengetedzai Depository Team, which is a software programme to ensure the two systems work perfectly.”
Chirume said the interface took a while to install putting the automated trading platform (ATS) and Central Securities Depository (CSD) systems together to ensure that it came out flawlessly.
“We have been successful in getting that interface developed and that was a major element for us and the interface has been working well and we will check how those systems have been doing,” Chirume said.
Chirume said that the size of the project required ZSE to invest a considerable amount of time, stakeholder engagement and resources to ensure the successful implementation which in some instances caused the “go live” dates to be shifted.
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He said the initial stages of selecting a supplier and negotiating terms required a thorough approach and that the on-boarding of the remaining counters onto the CSD was very critical.
“Our main data system has been completed so the major backbone of the hardware is complete. The software should be in place by June 6 at the latest or even earlier on June 5 in terms of being loaded onto the servers,” Chirume said.
“From then on we are obviously talking about training for our users, testing of the software and user acceptance of that software.”
Chirume said it was the ZSE’s hope to have completed the automation process in time to go live on July 3 and they expected that their consultants would be finished in helping test the software.
The Central Depository Settlement of Mauritius has been working with the ZSE in assisting them with critical decision-making which he believed was critical.
“The next step will involve all our stakeholders and we have been working very closely with our members training them. They have been quite aware of what we have been doing, debating the rules and analysing them in terms of trading which are the basis of developing the software,” Chirume said.
