Outdated systems blamed for NSE glitches
SEE ALSO :NSE extends trading hours after outageEarlier on October 1, 2018 trading was suspended for six hours. CMA says, confronted with such realities on the impact of system infrastructure failures, there is an urgent need for action. “The Nairobi Securities Exchanges, the Central Depository Settlement Corporation and the Central Bank need to fast-track system infrastructure upgrades and integration,” the authority said. Over the last five years, efforts have been channeled towards upgrading the Automated Trading System at the NSE, the Central Depository and Settlement Corporation (CDSC) IT system, and merging of the CDSC and Central Bank of Kenya Central Security Depositories. The regulator, however, said system outages are not unique to the Nairobi bourse, having hit Vietnam in January 2018, as well as India, Toronto, New Zealand and Tokyo main exchanges. NSE plans to have a new IT infrastructure system by June 2019, whereas the CDSC is at an advanced stage of upgrading its systems.
SEE ALSO :UAP makes Sh518 million loss in 2018The launch has been postponed a number of times, with the indicative date remaining within the 2018-19 financial year. The exchange currently handles between 15,000 and 30,000 transactions per day. [Otiato Guguyu]
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