InfoTech’s Capizar® suite launched on the Angola Stock Exchange
InfoTech Group, a Pakistani systems integrator and software provider, recently deployed its Capizar® automated trading platform to Bodiva, Angola’s Debt and Securities Exchange, according to a statement.
The contract was signed in 2020 after an extensive international competitive bidding process, to provide market operator Capizar® ATS with a comprehensive automated trading platform, as well as the clearing, settlement and Capizar® CSD electronic filing system.
The system was successfully commissioned in July 2021. This implementation was unique in a way as it began at the onset of pandemic lockdowns in March 2020, but the two teams worked closely and fully remotely to ensure that Covid restrictions do not affect the overall project schedule.
Bodiva is one of the fastest growing stock exchanges in Africa. The new system is expected to bring innovation to investment products, as well as provide market access to retail investors and individuals.
Walter da Cruz Pacheco, CEO of Bodiva, said: “The successful implementation of the Capizar® platform marks an important milestone in Bodiva’s development trajectory. Despite the constraints posed by the differences in distance and time zone, the Infotech and Bodiva project team worked very hard to provide the market with a better, more dynamic, secure and robust trading and settlement environment. While there are still a few features to roll out, our trading members are happy with the improvements made so far and this has resulted in faster and more efficient trading activity and, as a result, increased trading volume. It was a necessary change and Capizar® did not fall short of our expectations.
Despite the travel restrictions linked to the pandemic, the language barrier, the jet lag, the two 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 of Business Operations at InfoTech, said, “At InfoTech, we pride ourselves on our approach to continuous improvement and innovation in product development. Our top priority remains the rapid delivery and support of our solutions in all of our customer markets. We are proud of our partnership with Bodiva and hope to be a long term technology consultant to them. All project milestones, from project initiation through to commissioning, were completed in a timely, smooth, and most importantly, remote manner. I congratulate Bodiva, the Ministry of Finance and other market players and their teams for their exceptional contributions in making this project not only a success but also an example for the Angolan financial and financial markets. “
The implementation of the Capizar® suite will bring greater efficiency and scale to Bodiva. The new system will allow trading of returns, verifying positions in real time and giving brokers independence in the process of opening, maintaining and managing accounts receivable.
The transformation will provide easy access to issuers and demonstrate favorable access conditions for investors in addition to the monetary benefits associated with capital gains.
In addition, the market surveillance system and central counterparty functions will foster immense confidence in operations. As a result, Bodiva will be in a better position to gain the confidence of its investors and ultimately facilitate market growth.