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Investors at the Nairobi Securities Exchange (NSE) will now trade online on derivative contracts of blue-chip firms like Safaricom , KCB Group , Equity Bank and East African Breweries.

 

This comes after NSE granted online forex trader EGM Securities the operating licence on Tuesday to trade derivative contracts at the bourse. 

EGM Securities, a subsidiary of the Jordan-based Equiti Group, becomes the first broker to offer derivative contracts of the firms at the NSE.

 

The broker will initially offer futures contracts on the six most traded stocks - British American Tobacco Kenya, KCB, Equity, Safaricom, EABL and Absa Bank.

 

Investors will take less than five minutes to trade on the stocks as opposed to the current average two-day processing time putting Kenya at par with global standards.

 

Business Daily Africa