Published: 17 February 2014

Chengetedzai Depository Company has started opening accounts with stock brokers and custodians for the Central Securities Depository as it makes final preparations to launch the platform, Securities and Exchange Commission of Zimbabwe chief executive, Tafadzwa Chinamo has said.

Chinamo said tests done on the system had proved satisfactory.

The CSD will operate using the custodian model as opposed to the retail model.

Under the custodian model, investors will have a choice of either going directly through a custodian for the purchase of shares, through a broker or through Chengetedzai, which is also now a custodian.  

Chengetedzai Chief executive Campbell Musiwa said the country's first CSD was ready and awaiting the final regulatory approval.
- herald

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