Nairobi Securities Exchange: Press Release – NSE EXTENDS WAVIER FEES ON DAY TRADES
Friday, September 9, 2022
NSE EXTENDS WAVIER FEES ON DAY TRADES
The Nairobi Securities Exchange Plc (NSE) has extended its fee waiver on day trading in shares for the remainder of 2022. The statutory fee accruing to the NSE on the second leg of a day trade has been 100% phased out as of July. 2022. All investors who currently have accounts at the Central Depository and Settlement Company Limited(CDSC) can now make multiple trades in a day, taking advantage of price changes, at a reduced cost.
“The extension is intended to stimulate market activity and create an opportunity for investors to benefit from greater liquidity. I urge retailers investors to take advantage of this offer to increase portfolio returns.” said Mr. Geoffrey Odundo, Managing Director, NSE.
Since the launch of day trading in December 2021, the NSE has recorded a total turnover of Kshs. 3.8 billion buy and sell day trades, representing an average of 2.20% of monthly market activity.
Markets continue to regain momentum following the conclusion of the country’s general election. The NSE 20 stock index rose 2.49% this week following the Supreme Court ruling,
Commenting on the market performance, Mr. Odundo said, “We are confident that bullish market performance in this final quarter as the country recovers from cyclical economic downturns will continue to materialize.”
Notes to Editor
The Nairobi Securities Exchange (NSE) is the main stock exchange in Kenya. It offers a world-class trading facility for local and international investors and issuers looking to gain exposure to Kenya’s and Africa’s economic growth. NSE plays a vital role in the growth of Kenya’s economy through the mobilization of domestic resources and international capital. The NSE is a founding member of the Association of African Stock Exchanges and the Association of East African Stock Exchanges. It is a full member of the World Federation of Exchanges and Futures Association, and a partner in the United Nations Sustainable Exchanges (SSE) Initiative. NSE operates under the jurisdiction of the Capital Markets Authority of Kenya
FOR MORE INFORMATION PLEASE CONTACT:
Nairobi Securities Exchange PLC
Tel: +254 (020) 283 1000
E-mail: [email protected]
Nairobi Stock Exchange
55 Westlands Road, PO Box 43633 Nairobi, 00100 KENYA www.nse.co.ke