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SPSE Cloud-Based Registry Makes Access Easier For Shareholders, Stockbrokers

  South Pacific Stock Exchange (SPSE) has launched the ShareSoft Cloud Based Registry and Online Shareholder Portal. This essentially means shareholders can view investment statements from anywhere in the world
05 Nov 2016 11:00
SPSE Cloud-Based Registry Makes Access Easier For Shareholders, Stockbrokers
Attorney General and Minister for Economy Aiyaz Sayed-Khaiyum while launching South Pacific Stock Exchange Central Share Registry Ltd online registry software at RBF yesterday. Photo: RONALD KUMAR.

 

South Pacific Stock Exchange (SPSE) has launched the ShareSoft Cloud Based Registry and Online Shareholder Portal.

This essentially means shareholders can view investment statements from anywhere in the world with internet access and at any time.

They can also view dividend payments that have been made to them as well as all unclaimed dividends owed to them.

The stock brokers can also now view and confirm from anywhere with internet access and at any time, shareholder information and shareholding balance information for an investor wishing to trade.

This was previously a cumbersome exercise that involved extended time lag, emails and telephone calls between brokers and Central Share Registry Limited.

Speaking at the event Attorney-General and Minister for Economy, Aiyaz Sayed-Khaiyum, said such technological changes needed to be adapted.

“It is very critical that wherever you have stock exchange or whenever you make new institutions within the country, it must keep up to date with technology and technological changes,” he said.

“It must adapt to technology otherwise you will be left behind.”

He said if the stock exchange did not adapt the technology, it would actually get marginalised as a stock exchange.

“It is therefore very critical that the stock exchange, Government services, the Reserve Bank of Fiji services and any other type of services which are available within the country must continuously have the uptake of technology,” he said.

“Government, as has been highlighted, has increased the grant to South Pacific Stock Exchange and one of the reasons why we did that is for the SPSE to build that capacity in the organisation.”

Mr Sayed-Khaiyum also encouraged potential companies that can be listed under SPSE to actually take that step.

South Pacific Stock Exchange chairperson, Nur Bano Ali, said a thriving stock exchange is the barometer of a country’s level of sophistication and modernism and therefore important to develop.

“This development initiative recognises the critical role that technology plays in enhancing the ease and reducing the cost of doing business in Fiji’s stock market,” Ms Ali said.

She added the development would elevate the reputation and competitiveness of SPSE as an exchange both regionally and internationally and pave the way forward for cross-border transactions.

“With this technology in place, the exchange can also now confidently move towards script less trading which is adopted internationally,” she said.

“The cloud based registry and online shareholder portal that we have envisaged would be the first of its kind to be developed in Fiji and the South Pacific.

“It would be benchmarked against international securities registry providers such as Link Market and Computer Share.”

EDITED BY: rachna lal


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