SecZim licences VFEX

 SecZim licences VFEX
Published: 01 September 2020
The Securities and Exchange Commission of Zimbabwe has licenced the Victoria Falls Stock Exchange paving way for its scheduled opening.
The VFEX will become the country's second stock exchange as a wholly owned subsidiary of the Zimbabwe Stock Exchange. Government already paved way for its operationalisation after gazetting SI 196 of 2020.  
According to ZSE chief executive Justin Bgoni, the VFEX is now finalising the listing and membership requirements.
It is also awaiting the setting up of the trading and depository systems as well as modalities on the clearing and settlement of transaction.
There are indications that exchange is pursuing external settlement, to create confidence among investors that they will not encounter investment repatriation challenges that the country faced since 2016. If that route is pursued, then the exchange would need an external partner.
Bgoni said: "The completion of these processes (listings rules, depository and clearing systems), which is imminent, will enable VFEX to be launched. The market will be updated on the exact date when VFEX will go live.
The exchange will run its own depository and clearing and settlement systems  in line with trends elsewhere in the world. ZSE's depository is being run by Chengetedzai
- finx
Tags: SecZim, VFex,


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