Algiers, Algeria – The Algiers Stock Exchange (ASX) is set to introduce electronic trading for buy and sell orders of stocks and bonds before the end of December, according to an announcement made Wednesday in Algiers.
Youssef Bouzenada, President of the Commission d’Organisation et de Surveillance des Opérations de Bourse (COSOB), the regulatory body overseeing the stock exchange, stated that the new system will significantly enhance transparency and expedite transaction execution.
The move towards electronic trading represents a significant step forward for the ASX, which has been striving to modernize its operations and attract greater investment. Currently, trading is primarily conducted through traditional methods, which can be slower and less transparent than electronic systems.
The implementation of electronic trading is expected to streamline the entire process, from order placement to settlement. This will not only benefit investors by providing faster and more efficient access to the market but also improve the overall competitiveness of the Algerian financial market.
Bouzenada emphasized that the COSOB is committed to ensuring a smooth transition to the new system and that all necessary measures are being taken to protect investors and maintain market integrity. He added that training programs will be provided to brokers and other market participants to familiarize them with the electronic trading platform.
The introduction of electronic trading is widely seen as a positive development that will contribute to the growth and development of the Algerian economy by facilitating capital formation and promoting investment.
