InfoTech’s Capizar® Suite goes live at Angola Stock Exchange
InfoTech Group, a Pakistani systems integrator and software provider, recently deployed its Capizar® Automated Trading Platform at Bodiva, the Angola Debt and Stock Exchange, a statement said.
The contract was signed in 2020 after an extensive international tendering process, to provide the market operator with Capizar® ATS, a comprehensive automated trading platform, along with Capizar® CSD Clearing, Settlement and Electronic Depository system.
The system successfully went live in July 2021. This implementation was unique in a way as it commenced on the onset of the pandemic lockdowns in March 2020 but both the teams worked closely, and entirely remotely, to ensure that the Covid restrictions do not impact the overall project timelines.
Bodiva is one of the fastest-growing exchanges in Africa. The new system is expected to bring in investment-product innovation, as well as providing market access to retail and individual investors.
Walter da Cruz Pacheco, CEO of Bodiva, said: “The successful implementation of the Capizar® platform marks a significant step in Bodiva’s development trajectory. Despite the constraints posed by distance and time zone differences, the Infotech and Bodiva project team worked very hard to deliver to the market a better, more dynamic, safe and robust trading and settlement environment. Although there are a few features yet to be deployed, our trading members are satisfied with the improvements made so far and it has reflected in a more speedy and efficient trading activity and consequently an increase in trading volume. It was a necessary change, and Capizar® did not fall short of our expectations.”
Notwithstanding the pandemic travel restrictions, the language barrier, the time difference, both teams, InfoTech and Bodiva, worked in perfect harmony from their respective offices in Lahore and Luanda and made the project a benchmark for success.
To mark the occasion, Haris Naseer, director Business Operations at InfoTech, said, “At InfoTech we take pride in our approach of continuous enhancement and innovation in product development. Our foremost priority remains timely delivery and support of our solutions across all our client markets. We are proud of our partnership with Bodiva and hope to be a long-term technology consultant for them. All project milestones, from project kickoff till Go-Live were achieved timely, smoothly, and most importantly, remotely. I congratulate Bodiva, the Ministry of Finance, and other market participants and their teams for their outstanding contributions towards making this not just a successful but also an exemplary project for the Angolan capital and financial markets.”
The implementation of Capizar® suite will bring more efficiency and scale to Bodiva. The new system will enable trading in yield, allow verification of positions in real-time and give independence to the brokers regarding the process of opening, maintaining, and managing customer accounts.
The transformation will provide easy access to issuers and manifest favourable conditions for access to investors in addition to the monetary benefits associated with the capital gains.
Further, the market surveillance system and central counterparty functions will foster immense confidence in operations. Consequently, Bodiva will be in a better position to gain the confidence of their investors and ultimately facilitate market growth.
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