Old Mutual ZSE Top Ten ETF now on ZSE Direct
Staff Writer
HARARE, The Old Mutual ZSE Top Ten ETF is now available through ZSE Direct, the Zimbabwe Stock Exchange Limited, has said.
The platform – ZSE Direct – has a user-friendly interface; whose main advantage is its ability to match trades.
The platform allows investors to choose a stockbroker of their choice, who then handles the KYC issues.
It also allows investors to fund accounts in real time via Ecocash or through a bank account
“To invest in the Old Mutual ZSE Top Ten ETF, you are required to have an existing account on ZSE Direct or a trading account with your stockbroker,” the ZSE said in a statement.
Expectedly not all stockbrokers are on the platform largely due to past experiences with low value trades on the C-Trade platform, which do not justify the brokerage fees.
The same problems will be experienced again on ZSE Direct. However, the exchange says that a minimum limit will be adopted.