Botswana Stock Exchange (BSE) says the newly introduced exchange news service is expected disseminate listed company information to the market in real time, facilitating punctual, equal and wide exchange of relevant news and information.
BSE Trading and Listing Manager Tsametse Mmolai on Tuesday told the media that X-News was implemented as part of the bourse’s strategy of making the BSE a repository of exchange related information for the benefit of the market.
Mmolai explained that listed company publications will be released by the BSE through X-News; appearing immediately on both the ATS message board (ATSM), and the BSE website (BSEW). He added that subscribers to the X-News email service will have the link to the publications despatched to their designated email addresses within 10 minutes of uploading to the ATSM and BSEW.
“A fair and efficient market, without insider trading requires fair distribution of information to exist,” said Mmolai.
He also pointed out that both the BSE Main Committee and the Non-Banking Financial Regulatory Authority (NBFIRA) have approved the necessary amendments to the BSE listing requirements to enable full implementation of X-News. He added that X-News was launched with effect from 1st August 2014 on a trial basis and shall be implemented fully with effect from 1st September 2014.
“The BSE offers a value add service by X-News email alerts for those who require constant updates,” he stated.
He further pointed out that subscribers to the X-News email service will have the link to the publications dispatched to their designated email addresses within 15 minutes of uploading to the ATS and BSE website.
Currently the amendments of the BSE listing rules are on-going and BSE is presently reviewing comments from stakeholders with a view to incorporating them in the listing requirements amendments. BSE will then present them to the main committee for comments and approval and finally to the Non-Banking Financial Regulatory Authority (NBFIRA) for approval before implementation.