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Botswana’s bourse goes big on technology

Botswana Stock Exchange (BSE) has implemented three new technology systems – integrated Central Securities Depository (CSD) and Automated Trading System (ATS), coupled with the connectivity to the Society for Worldwide Interbank Financial Telecommunication (SWIFT).

Thapelo Tsheole, BSE CEO said, “These three technology systems represent a modernisation of the BSE’s technology infrastructure that aims to improve the resilience of the market, network security, operational efficiencies and align with international best practice in order to make the BSE competitive in the global securities market.

Tsheole believes the new systems, at a cost of over 10-million Pula will boost confidence in the market and enhance BSE’s operations.“This is a great improvement to the BSE, the new system puts us in line with London Stock Exchange on technology.”

Tsheole said the CSD system replaces an outdated infrastructure and the ATS is also a strategic update to a system first implemented in 2021.

“The implementation of the new CSD system has commissioned the settlement of market transactions on the BSE at Bank of Botswana (BoB) through the Botswana Interbank Settlement System (BISS) which, just like the CSD system, is linked to the SWIFT network,” he added.

In addition, the CSD system comprises new functionalities and capabilities that expand its services and products such as the centralised custody for all securities in the market including government securities, electronic annual general meetings (E-AGMs), among others.

Tsheole said the system will soon provide customers’ remote access to their CSD accounts and statements, while the new ATS includes an improved request for quotation (RFQ) mechanism which is popular for trading of bonds, a bond calculator, and availability of micro auctions which can be used for market-making, as well as improved information dissemination capabilities. 

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