Sunday, July 15, 2012

InfoTech to implement software at CMA

InfoTech’s proprietary Capizar® Capital Market Suite has been successfully deployed in Pakistan, Ghana, and Bhutan.

InfoTech, a Pakistani based IT company, has won the bid to deploy its advanced Market Surveillance System, Capizar® Capital Market Suite, in Kenya. The software will serve to maintain a transparent and efficient market, and hence protect investors’ interests in the country.
The Capital Markets Authority of Kenya (CMA) followed a stringent public procurement process that commenced in June 2011 with the release of an expression of interest (EOI) collected from around the world. Contended parties submitted a request for proposal from which the competitive bidder that was the best market fit, was identified.
Earlier, the CMA had embarked on a program to automate their Depository and Settlement (DSS) Operations in November 2004, implement an Automated Trading System (ATS) in September 2006, Wide Area Network (WAN) in December 2007 and successfully installed the Broker Back Office (BBO) early this year. Collectively these have helped transform Kenya’s capital market to globally accepted financial market standards and competitively positioned it as a safe and preferred investment destination.
Speaking during the contract signing ceremony on Wednesday, CMA’s Chief Executive Stella Kilonzo noted, “The authority has stepped up its oversight role to ensure real time surveillance and any irregularities in trading are identified and curbed early enough through the successful implementation of an enhanced surveillance system.”
Naseer Akhtar , InfoTech’s CEO lauded the role of CMA in maintaining and regulating the capital markets of Kenya. He said, “The implementation of the Capizar market surveillance will ensure that trading remains the foremost priority and that it is conducted in a transparent manner.”

Adapted from: The Express Tribune 

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