Rwanda Stock Exchange (RSE) is in the process of incorporating IT in its operations and is set to automate trading of stocks and shares by the end of June.
RSE chief executive Pierre Célestin Rwabukumba said that plans for automating trading activities are on and they would involve neighbouring countries as the infrastructure will link to other regional exchanges.
“As regional exchanges move to harmonise operations, the Rwanda Stock Exchange is working hard to start automated trade,” he said.
He added that EAC stock markets integration will enable Rwanda Stock Exchange to tap into a wider investor pool and range of products the region has to offer for RSE’s efficiency.
Trading of shares of the eight companies that are listed on Rwanda Stock Exchange will be automated but we are expecting more companies and other products to come on the market stock, Rwabukumba said.
“The initiative is part of strategies to make RSE efficient and more competitive in the region,” Rwabukumba added.
Capital Market Authority’s acting executive director Eric Bundugu noted that, overall, the automation of RSE trading activities will enhance effectiveness and efficiency in trading operations.
He added that the main benefit of the development is that it will enable seamless transactions of financial securities and payments not only in Rwanda but also between Rwandan stock market with its peers in the EAC region.
“Developmental projects (both from private and public sectors) will benefit from the automation of RSE trading activities since it will play a significant role in the mobilisation and allocation of resources for long-term investments,” he said.
The Nairobi Stock Exchange, Uganda Securities Exchange and Dar es Salaam Stock Exchange have already automated their trading platforms.