Nairobi Securities Exchange Plc · NSEKE:NSE
Nairobi Securities Exchange — Investor Presentation (2010)
13 slides from Nairobi Securities Exchange's investor presentation, 2010
Slide 1: Introduction To The ATS
Introduction To The ATS
Slide 2: What the Automated Trading System (ATS) is
• Automated Trading System (ATS) is a computerized system designed to match orders placed by member firms based on the trading rules and report the different trades. Hence, it is an electronic computerization of the trading process at the NSE. • “An electronic version of our Trading Rules.” • ATS pe
Slide 3: ATS capacity and robustness
Does 10 orders a second 200 Trades a minutes Assumption 1 trade takes 3 orders 12,000 Trades an hour 36,000 Trades a day Robust Able to recover from DB failures due to connectivity or System Software issues
Slide 4: 4
4
Slide 5: Trading categorized by market type
Trading is categorized by market type: Equity Market: Constituting equity securities (ET) Normal Board Odd Board Prompt Board Fixed Income Market: Government issued bills and bonds as well as Corporate Bonds traded on price terms (DT). Debt Trading 5
Slide 6: Trading cycle for the Normal Board/Prompt
The trading cycle for the Normal Board/Prompt will be subdivided into the following: 1. Pre-open session (9.00 a.m. – 9.30 a.m.) 2. Open Auction (9.30 a.m. -9.31 a.m.) 3. Regular trading (9.31 a.m. - 3.00 p.m.) 4. Closing/close (3.00 p.m. – 4.30 p.m.) The Odd Board has only an Open and Close Session
Slide 7: Pre-open session
During pre-open the system • Accepts orders. • Orders can be amended and cancelled during pre-open. • However, no matching and executions take place at this stage. 7
Slide 8: Open auction session
• The system temporarily closes the order book and starts matching orders keyed in during the pre- open session • It establishes the opening price and determines the orders to be executed according to the rules for the open-auction session. 8
Slide 9: Regular trading session
During regular trading new orders are continually matched to existing orders in the order book according to rules defined. If an order cannot be executed it is stored in the order book depending on its attributes. 9
Slide 10: Close session and order books
All order books are closed to allow for the posting of trades and the subsequent generation of market statistics 10
Slide 11: Information Display
Information Display — 27.12 UNCH soo 4 95 see O54 HB esv2 @ 27.12 UNCH 11
Slide 12: ATS participants
Investors Listed Stockbroker s ATS Companies Regulator s 12
Slide 13: Thank you
Thank you
Nairobi Securities Exchange — Investor Presentation (2010) on 6ix