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CSD market value clocks RTGS$11bn

June 19, 2019
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CSD market value clocks RTGS$11bn
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The Chronicle

Natasha Chamba, Business Reporter 

CHENGETEDZAI Securities Depository (CSD) market value has risen to RTGS$11 billion as at end of May 2019 after processing in excess of 82 120 securities deposits since going live in August 2014.

Around 910 securities were processed last month. CSD facilitates the clearing, settlement and safekeeping of securities, equities, money market instruments bonds and mortgage backed securities and derivatives.

It also caters for the transfer of securities between beneficial owners via a book entry and for the settlement of cash following transactions on organised exchanges such as the Zimbabwe Stock Exchange (ZSE). 

In a statement CSD chief executive officer, Mr Campbell Musiwa, said the market value of the securities placed on the CSD gained value by 42,29 percent to RTGS$11, 422 billion.

“The number of securities deposits on Chengetedzai Securities Depository (CSD) now stands at 82 120 after it processed 910 securities in May with the market value of the securities gaining 42,29 percent to RTGS$11,422 billion from RTGS$ 8,027 billion on prior month,” he said.

“CSD received and processed 3 098 ZSE trades in May 2019, bringing the total number of trades processed in 2019 to 6 463. During the month, the ZSE equities market continued with its upward trajectory with the turnover closing at US$193, 5 million from US$116, 2 million.” 

This came as the ZSE market capitalisation recorded a gain of 42, 38 percent, finishing the month of May at RTGS$24, 9 billion compared to RTGS$17, 5 billion as at 30 April 2019.

Dematerialised securities accounted for 45, 8 percent of the ZSE equities market capitalisation as at May 31 2019.

Dematerialisation is the process by which physical share certificates held by an investor are converted into an equivalent number of securities in electronic form and credited into the investors’ account.

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