Friday, January 11, 2008

Automation project underway at Ghana Stock Exchange

In a move to bring Ghana’s Stock Exchange closer to international standards, trading and other activities will be automated in the next few months.

According to My Joy Online:

This will replace the current manual trading system, where the brokers have to place their orders and bids on a white board during trading sessions on the floor for allotment to be done.

The platform, being executed at a cost of 1.88 million-dollars, will allow trading to be done on line and on real time basis by the touch of a button.

Trading commenced at the Stock Exchange on November 12, 1991. Presently there are 34 listed companies traded on the exchange and total market capitalization (as of June 30) is more than $12 million. On January 10, 2008 (yesterday) some 77,800 shares were traded. The exchange has 16 licensed stock broking firms, and custodial services for non-residents are provided by Barclays Bank of Ghana.

No comments: