ALTX launches Uganda hi-tech exchange
The Kampala exchange, developed in partnership with GMEX Technologies and ESCROW Group, is launching with depository receipt securities issued on the treasury secondary market.
Mauritius-based ALTX Group has launched its Uganda securities exchange. The team, led by chief executive officer (CEO) Joseph Kitamirike has built the exchange since 2013 and since late last year has been optimising their systems, aiming to deliver a world class securities exchange facility. The platform obtained regulatory approval in 2014 and depository approval was secured in 2015.
ALTX East Africa worked in partnership with London-based exchange tech company GMEX Technologies and ESCROW Group, which also specialises in securities management and systems. “The technology package that ALTX has assembled for the ALTX East Africa exchange is blazing the trail in terms of performance and risk management,” said Kitamirike.
ALTX is launching with depository receipt securities issued on the treasury secondary market. In the medium term it plans to add introduce global equities, access to global bond products and exchange traded funds.