In just eight weeks, South Africa’s Securities and Trading Technology (STT), a trading, clearing and settlement technology firm has build the Dar es Salaam Stock Exchange (DSE) system from start to finish.
According to Moremi Marwa, CEO of DSE, “This is another milestone to our National Exchange – we have not only achieved to excuted this in the shortest period possible but we also have managed to procure a system that seemlessly intergrate our automated trading platform with the central securities depository and the National Payment System through SWIFT interface – this means we have now achieved a true Delivery versus Payment (DVP) and hence risk management assurance to our investors.
The DSE is said to be more efficient and has more products and aims to increase the accessability via mobile, internet and sms trading facilities.
Michelle Janke, MD of STT said the Tanzanian Exchange becomes STT’s third Exchange to go-live with STT’s integrated Exchange Solution. The DSE is STT’s first African Exchange to go-live with STT’s Equities platform as well as its Central Securities Depository (CSD) system.
Founded in 1985 in South Africa, STT develops financial market software solutions for banks, brokers, insurance companies, trading houses, corporate treasury operations and central securities depository participants among others.