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Namibia stock exchange to start on-screen bond trading in June

By David Whitehouse
Posted on Monday, 3 May 2021 11:12

REUTERS/Regis Duvignau

Namibia’s stock exchange will launch on-screen bond trading in June as a step towards demateralisation of settlement, CEO Tiaan Bazuin tells The Africa Report.

The on-screen trades will continue to use paper settlement until a central securities depositary (CSD) can be put in place, Bazuin says in Windhoek. Bonds currently have to be traded over-the-counter (OTC).

The exchange hopes to be able to implement a CSD to facilitate automatic bond trading by the end of the year. The creation of a CSD, which would end OTC trading, has been held up by delays in the enabling legislation needed.