THE Victoria Falls Stock Exchange (VFEX) says it is engaging potential issuers in a bid to expand its trading parameters on the platform and attract more investors.
This comes after VFEX market capitalisation for the third quarter ended September 30, 2023 closed at US$$1,27 billion, representing a slight decline of 0,89% from the previous quarter.
In a newsletter, VFEX said it was engaging potential issuers with a primary focus to increase securities listed on the exchange.
“The Bond Market Association initiative has gathered momentum, and it is expected that the inaugural launch will be held before the end of the year. The initiative has received support from key stakeholders, and we are hopeful that it will enhance the outlook of the fixed income space,” it said.
“The commodities exchange framework is currently being finalised. The rules of the exchange are currently being reviewed by the Attorney General.”
The foreign currency-denominated bourse said the legislation governing carbon credit market has been published and was conducting stakeholder awareness campaigns before the commencement of carbon credit trading on the exchange.
Application for contract for differences (CFD) trading has been licensed by the Securities and Exchange Commission of Zimbabwe and the approved member is in the process of setting up systems to start trading.
It is expected that CFD trading will commence before the end of the year, VFEX said.
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The dollar-denominated bourse said it was working on establishing strategic partnerships to attract foreign participation on the exchange.
The partnerships will entail hosting conferences with stakeholders targeted at foreign investors, the bourse said.
The VFEX All Share Index closed at 74 4758 points, showing a slight reduction by 2,22% from the previous quarter.
VFEX recorded 3,617 trades in the third quarter of this year compared to 336 trades in the comparable period. On a year-to-date basis, the VFEX recorded 6 661 trades.
It recorded a strong US$5,9 7 million in turnover for the quarter under review compared to the same period last year.
As part of the continuous efforts to promote financial inclusion and retail participation, VFEX added InnBucks Microbank Limited as a payment channel on VFEX Direct with effect from August 1, 2023.
The addition of InnBucks on VFEX Direct will enable retail investors to top up their wallet through the InnBucks mobile app or USSD code.
VFEX has 14 listed companies.