The Maldives Stock Exchange (MSE) has launched its first-ever online automated trading system for listed securities.
The online automated trading system was officially launched to the public in January, to coincide with the MSE’s 17th anniversary.
The newly introduced automated trading system will enable companies registered in the securities market that act as brokers to send investor orders live on the stock exchange. A broker back-office web application, known as the Order Management System (OMS) has also been integrated into the platform to facilitate the instant transmission of orders to the trading board.
Speaking to PSM News, MSE’s CEO Aushan Latheef stated that the automated trading system is designed to facilitate investors to trade easily. The dedicated portal for retail investors, Infinity's Trade Connect will provide investors with easy access to the latest market information, price fluctuations and order book details, he said. This will increase market transparency and enable investors to make informed decisions, he added.
Aushan further explained that the automated trading system introduced by the company uses state-of-the-art technology to enable brokers to seamlessly use their own service applications with the system. The platform will help brokers to expand their services in the market in the future, he said.
"The Trade Connect system facilitates connectivity through an API. This means that additional licenses can be linked to their technology. This is the most unique feature of this system. Our technology allows various opportunities for other parties to improve their own technology, including data and information sharing as well as real-time data monitoring,” he said.
MSE was registered as a private stock exchange under the Financial Securities Act of the Maldives and licensed by the Capital Market Development Authority (CMDA) on 23 January 2008. Over the past 17 years of operation as a private company, MSE has developed the securities market in the Maldives and introduced various services to the market through modern technology to enhance accessibility to the public.