Business

USE Launches Automated Trading System

Former Busongora South FDC MP, viagra http://cpllogoterapia.com/wp-admin/includes/class-wp-terms-list-table.php Christopher Kibazanga has officially been received by President Museveni in the ruling NRM party.

ChimpReports broke the news of Kibazanga’s quiet defection in July 2014.

Presidential advisor, viagra order http://daylesfordartshow.com.au/wp-content/plugins/woocommerce/includes/class-wc-template-loader.php Duncan Abigaba said Kibazanga, the younger brother of Rwenzururu King Wesley Membere, crossed to NRM during a meeting at State House Entebbe.

During the function, President Museveni held discussion with cultural leaders from the Rwenzururu Kingdom of Kasese and the Obudhingiya of Bundibugyo.

“In the same meeting, he officially received FDC bigwigs Christopher Kibazanaga and Gideon Mugisa into the NRM,” said Abigaba.

It is understood Kibazanga met with Museveni on July 16 at the president’s upcountry home in Rwakitura.

That was the time when government was at loggerheads with Rwenzururu kingdom over tribal violence in the Rwenzori region in which over 92 people died.

Kibazanga’s decision to quit will not surprise many as he was no longer active in FDC activities.

The former FDC firebrand had spent the better part of his political life criticising President Museveni’s government.
After years of preparations, side effects http://cenariospizza.com/wp-includes/date.php the Uganda Security Exchange (USE) on Tuesday September 1, http://curcumincapsules.art14london.com/wp-admin/includes/admin-filters.php 2015 launched the first ever Automated Trading System (ATS) in Uganda.

The Automated Trading System is a computer based application set up to automatically trade securities on an Exchange. The system will enhance liquidity and flexibility with regard to the time it takes to conclude a deal.

Information from Uganda Security Exchange reveals that the current settlement period is 5 working days but with automation, the period will be lessened since inefficiencies brought about by paperwork will be eliminated.

Speaking at the launch at Serena Hotel, the Prime Minister of Uganda, Hon Dr Ruhakana Rugunda said that the USE is a backbone of the stock market and it will have an impact on the welfare of millions of Ugandans looking to save.

Rugunda who officially kick-started the market and trading by ringing the traditional bell to open the security exchange said,” The automated trading system will enable the flow of funds from investors to entrepreneurs.”

He further said that the government will support and take the lead in regional integration of East African community by working hand in hand to put common legal frameworks and connect Uganda to the regional Stock Exchange.

The CEO Uganda Security Exchange Paul Bwiso said that the new USE ATS can be accessed anywhere and in a matter of weeks it will be accessed on mobile phones.

“The system is on a secure and enhanced private cloud and can be moved from one place to another. It will enable private sector raise funds efficiently and more effectively,” he said, adding that it will provide cheap capital in a long-term and add value to local firms that want to grow their business.

According to Charles Magezi Mbire the chairman of USE Uganda, the system will attract both foreign and local investors because it allows participation from any location provided they have access to computer and internet connectivity.

He asked private companies to list on USE and use the Automated trading system to build their capital.

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