“It is no new discovery that technology has changed the way we interact daily. Our phones and other electronic devices have become the quickest and arguably the most efficient way of communicating and streamlining systems and processes, in a bid for people’s lives be made more convenient.” Dr Bwalya Ngandu, Hon Minister of Finance,
The market has for some time sought to prey on the advancement of technology to make lives easier for investors. Understandably so, My LuSE application stems from such aspirations. The application enables investors (as well as prospective investors) directly access the exchange online without necessarily having to go through a broker. It offers a full bouquet of market access from account registration to settlement of transactions. The platform also gives access to real time visibility to the market and monitoring of transactions and personal trading.
Investors can place their own orders on the market, trade and settle their transactions. They are also able to check, observe and monitor their account status both from the perspective of securities held and funds availability. Obviously, the platform is set up such that all trades and any other transactions can only take place within the confines of the LuSE trading rules. This ensures that there is orderliness and fairness among market participants.
What do we expect from MyLuSE?
• More control and flexibility for the investors
• Increased liquidity due to increased trades and a wider base of holders of securities
• Real time monitoring of investment performance
• Increased market turnover
• Easy to use and can be accessed any time, any where
• Financial inclusion through increased retail participation on the market
• Increased capital markets awareness and depth
The biggest plus we will all take away from this development is the broader market participation, leading to a more vibrant market. It will also help to erode the often-misconceived idea that the securities market is complex, risky or that it the benefits are minimal.
The app (MyLuSE) can be downloaded from your mobile phone, web based access through the link to the platform site and soon to be integrated, USSD.
Tidale M Chisunka