X-News to level playing field-BSE

The capital market cannot function without punctual and fair distribution of investment information to enable investors to make timely and informed decisions, Botswana Stock Exchange (BSE) Chief Executive Officer, Hiran Mendis said this morning.

BSE is piloting an information distribution platform, Exchange News or X-News Service; to help investors and fund managers make decision on time. 

“Timely information is key in running a stock market,” Mendis told reporters during a media briefing. X-News will adversely reduce time taken by investors and fund managers to make an investment decision. Traditionally, listed companies took long time to distribute information on investment and created challenges un unfair access to information and encouraged insider trading. Mendis said the introduction of X-News will level the playing field, as most offshore investors do not have access to information on listed companies that is usually disseminated through the local media. 

BSE Listing and Trading Manager, Sametsi Mmolai uptake of X-News has been encouraging, especially by fund managers and offshore investors. “They have welcomed the introduction of X News because they say they need the information as soon as possible,” said Mmolai. “Offshore managers said it has been long overdue,” he added.

New listing rules have incorporated the X News Service, according BSE Deputy CEO, Thapelo Tsheole. The services will stream live beginning of next month.