Uganda: Alternative stock exchange ALTX start operations
Monday, 11 July 2016 19:55
The Ugandan alternative stock exchange ALTX East Africa has started operations on July 8 with treasury bills and bonds.
According to executive director, Joseph Kitamirike, ALTX East Africa relies on a multi-currency electronic trading platform; investors thus do not need to convert to shillings to trade.
This platform is extremely rapid in its activity. Truly, transaction can be completed in a second.
Besides treasury bonds and sovereign bonds, the new alternative Ugandan market will trade in bonds, equities, derivatives and depositary receipts.
Kitamirike, formerly executive director of the Uganda Securities Exchange (USE), added that the two companies could soon join the alternative market, which was licensed by the Capital Markets Authority (CMA) in 2014.
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