Geza Ulole
JF-Expert Member
- Oct 31, 2009
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The Dar bourse has embarked on the use mobile phones platform on buying and selling shares and bonds, a move that will widen the equity and debt trading activities especially upcountry where brokers are not present.
"From today everyone could trade using mobile phone. To buy or sell share simply dial *150*36# and the software will direct the user on the next step until the transaction is completed," The DSE Chief Executive Officer, Moremi Marwa said during the listing of CRDB shares.
He said that the investors in remote places will be able to access the bourse's Trading and Depository platform through their mobile phones via virtual stock brokers.
According to DSE, under the initiative, investors can buy and sell shares, bonds and any future listed instruments without physically visiting stock brokers or agents.
"We envisage that this initiative will deepen even further accessibility of financial products which are listed in our stock exchange," Mr. Marwa said.
The trading rules -- as they related to trading, delivery and settlement of securities and cash -- will apply as is currently the case. The Maxcom Africa Managing Director, Juma Rajabu, said the Tanzania become the first bourse in Africa to use the mobile phone trading platform.
"The buyers and sellers will not be charged anything, only the usual charge of trading transaction imposed by DSE will be applied," Mr. Rajabu said.
CRDB Bank acting Managing Director Esther Kitoka said they are glad that the bourse has picked them as the launching pad of the mobile phone trading.
"We will continue to support initiative to make the trading at DSE easier," Ms. Kitoka said.
DSE BECOMES THE FIRST BOURSE IN AFRICA TO USE THE MOBILE PHONE TRADING PLATFORM - Corporate Digest
