Dar es Salaam Stock Exchange (DSE) have successfully gone live this morning with Securities and Trading Technology's integrated trading, clearing and settlement technology. After a whirlwind from start to finish, from the signing of contracts to the go-live date, Securities and Trading Technology with the help of the Tanzanian Exchange, pulled off this amazing feat within only 8 weeks.
Michelle Janke, MD of STT said:
"I am extremely proud on this momentous occasion. Today the Tanzanian Exchange becomes STT's third Exchange to go-live with STT's integrated Exchange Solution. Furthermore, the DSE is STT's first African Exchange to go-live with our Equities platform as well as our Central Securities Depository (CSD) system, and this was all accomplished within 8 short weeks."
Moremi Marwa, CEO of DSE said:
"This is another milestone to our National Exchange - we have not only achieved to excuted this in the shortest period possible but we also have managed to procure a system that seemlessly intergrate our automated trading platform with the central securities depository and the National Payment System through SWIFT interface - this means we have now achieved a true Delivery versus Payment (DVP) and hence risk management assurance to our investors. Furthermore the system is more efficient, it is more scallable and flexible, which is line we our strategic intent of introducing new products and increasing accessability to our system through the use mobile, internet and sms trading facilities - we are very grateful for what we have achieved during this short period of time. We are thanksful to the STT team for partnering with us and making it possible for us to pull this off."
Two very happy faces - The MD of STT Michelle Janke and the CEO of the DSE Moremi Marwa shake hands as the system goes live for the first time this morning at the Tanzanian Exchange.