Published: 19 September 2013

Zimbabwe Stock Exchange has opened bids for vendors who want to supply hardware and software for the automation of the exchange scheduled for completion before the end of this year.

In a statement, ZSE said the deadline for submission of an Expression of Interest and the confirmation of payment of fees would be September 27, 2013.

"To support this automation effort, ZSE seeks to engage vendors to bid in respect of the supply, installation, testing and future support of the requisite hardware and software for the implementation of an Automated Trading System," said ZSE.

"In this context, ZSE is issuing a Request for Proposal document for the vendors to bid."

Some analysts say the continued use of manual trading system has partly contributed to subdued market turnover.

The manual trading system has also compromised the viability of stockbrokers who are getting low commission. Economic analyst Mr Joseph Sagwati hailed the development saying the automation is the process that has been long overdue and it being put in place will go a long way in instilling investor confidence.

He added that the automation is going to add efficiency on the real capital creation and electronic settlements are the ones taking center stage on the global market.

Last month ZSE chief executive Mr Alban Chirume told the Herald Business that the Zimbabwe Stock Exchange will be fully automated by end of the first quarter next year as part of efforts at modernising the bourse so that it catches up with other exchanges.
- herald

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