Site icon MONEYINAFRICA

Kenya: Online forex trader EGM Securities joins NSE derivatives market

Kenya: Online forex trader EGM Securities joins NSE derivatives market

Investors at the Nairobi Securities Exchange (NSE) will now trade online on derivative contracts of blue-chip firms like Safaricom , KCB Group , Equity Bank and East African Breweries .

This comes after NSE granted online forex trader EGM Securities the operating licence on Tuesday to trade derivative contracts at the bourse.

EGM Securities, a subsidiary of the Jordan-based Equiti Group, becomes the first broker to offer derivative contracts of the firms at the NSE.

The broker will initially offer futures contracts on the six most traded stocks – British American Tobacco Kenya, KCB, Equity, Safaricom, EABL and Absa Bank.

Investors will take less than five minutes to trade on the stocks as opposed to the current average two-day processing time putting Kenya at par with global standards.

Stay in the Know!

Sign up for the latest news and information on African Companies and Economy.

By signing up, you agree to receive MoneyInAfrica offers, promotions and other commercial messages. You may unsubscribe at any time.
Exit mobile version