CAL Brokers launches internet based trading system
Cal Brokers Limited on Friday launched a trading platform, which will provide investors online trading tools and information to enable them to buy shares, track and monitor performance of listed securities on the Ghana Stock Exchange.
Known as the i-Broker the internet based system has two components, the i-trade and i-track.
While the i-trade gives investors access to the GSE to enable them to place buy and sell orders and also view the entire market trading activities to enable them to take firm investment decisions, i-track on the order hand enables investors monitor their portfolios in real time.
Investors seeking to use the free online service must first open an account with Cal Brokers either with shares or funds.
Mr David Tetteh, Chief Executive Officer of Cal Brokers Limited, said the system was to help end the frustrations of investors who are usually overwhelmed by the excessive paper work, delays and bureaucracy in the processes at the back office and thereby hindering the progress of the market.
“What we offer today to the investing world is the result of our commitment to make investing on the Ghana Stock Exchange a hassle-free process,” Mr Tetteh said.
“We have sought to enable people from all over the world to trade on the GSE just like they would on the New York Stock Exchange, the London Stock Exchange or the Bourse Dubai,” he added.
He expressed the hope that the i-broker would open up the local market to more investors, make trading and monitoring of stocks easier for existing investors as well as enhance transparency and liquidity in the market.
Mr. Ekow Afedzie, General Manager of the Ghana Stock Exchange, said the launch of the trading platform tied in with the aims of the automation of the Ghana Stock Exchange, which is to increase efficiency and liquidity to enhance investor confidence.
He said the automation will change the face of the capital market through the introduction of new features such as internet trading, day trading and margin trading among others.
Mr Afedzie said brokers have the chance to give terminals to clients to enable them to trade via the internet and was happy at the launch of the first comprehensive online trading platform.
Mr Frank Adu Jnr., Chairman of the Ghana Stock Exchange, said the automation would enable the bourse to bridge the technological gap between it and other competitors on the continent.
Mr Kofi Yamoah, Managing Director of the Exchange, said by February Licensed Dealing Members of the exchange would be connected to a Wide Area Network to enable them trade from their offices.