ZSE introduces market data policy

HARARE - The Zimbabwe Stock Exchange (ZSE) has announced that it will soon  issue the Market Data Policy which will govern the use, distribution and reporting for listed counters with effect from January 1 next year.

Market Data enables investors and stock brokers to have public access to trade data more conveniently. It would also ensure that those who use the data for commercial purpose pay for it through vending.

The policy outlines the policies which would govern the use, distribution, display and reporting of ZSE market data by direct customers, data vendors and their end users.

“The general public should note that the policy is an evolving document which will be continually updated over time and updated versions of the document will be available from time to time,” the local bourse said in a statement yesterday.

The ZSE publicity invited comments from all stakeholders on the draft policy on September 7 and the comments were used to amend the draft policy.

The Market Data Policy is expected to increase ZSE participation. Market turnover recorded in the quarter to September increased fourfold to $127,8 million compared to $31,96 million recorded in the same period last year.

The month of September contributed 70 percent to the total value of shares traded on the ZSE during the period under review.

According to ZSE, September recorded the biggest monthly turnover since dollarisation of $89,5 million.

Market capitalisation more than doubled in the third quarter to $11,86 billion from $5,7 billion in the previous quarter while year on year it rose 335,22 percent.

The local bourse’s mainstream index grew by 113,5 percent in the third quarter to September, reaching a new high of 418,39 points as investors sought refuge in stocks against a background of rising inflation and bond note which are losing value against the US dollar.

The mining index also advanced 75,63 percentage to 122,57 points in the quarter. On a year-on-year basis, the industrial index rose 322,8 percent while the mining index picked up 360,6 percent.

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