ZSE introduces Odd Lot Board
The Zimbabwe Stock Exchange (ZSE) has introduced the Odd Lot Board to the market as part of its initiatives to enhance participation of retail investors and boost their financial inclusion on capital markets.
The bourse has been seized with efforts to increase participation of retail investors on the ZSE while also enhancing financial inclusion on capital markets. One of the initiatives include the launch of the ZSE Direct in September last year, which makes it easier for investors to trade on the exchange.
ZSE chief executive officer Mr Justin Bgoni, said the addition of the Odd Lot Board on ZSE Direct, means that all ZSE Direct clients can now place bids or offers for volumes from 1 up to 99.
According to the bourse, among other conditions – the permissible trading quantity is from one to 99. Volumes of 100 and multiples thereof have to be put on the regular board while the minimum buy amount remains $500 but with no minimum value on the sell side.
Transaction charges on the Odd Lot Board while reference price will be the price set in the regular board.
Additionally, the sell proceeds on Odd Lot orders will be credited to clients’ wallets on the same day after a successful matched and confirmed sell order.
“In July 2021 the ZSE introduced a new feature, ZSE Direct Instant, making it easier and much faster for investors to access proceeds from the disposal of their securities on the market. As we celebrate the first anniversary of ZSE Direct, we are excited to announce that with effect from 8 September 2021, the Odd Lot Board will now be available on ZSE
Direct.
“Continuous support and feedback from stakeholders has aided us to continue exploring initiatives that promote retail participation and increase financial inclusion,” said Mr Bgoni.
Financial inclusion on capital markets in Zimbabwe has for years been low and estimated at around 1 percent.
To address the challenge, operators of exchanges in the country have been coming up with innovations to improve financial inclusion for ordinary Zimbabweans on the capital markets and demystifying them to increase their allure as good investment options.
These initiatives have enabled even the first time investors to experience the full investment process of having their own stockbroking account and their own Central Securities Depository (CSD) accounts.-herald.cl.z
