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After years of preparations, Uganda Securities Exchange (USE) is set to start automated trading.

The exercise, which according to USE, is likely to start in the next two weeks, will enable the execution of electronic shares trading, the first of its kind in Uganda.

The Nairobi Securities Exchange and the Dares Salaam Stock Exchange, for instance, already run on an automated trading system.

In an interview yesterday, Mr Paul Bwiso, the USE chief executive officer, told Daily Monitor the automated trading system is in advanced stages.

"We have been getting ready for automated trading for a while and we are now in final stages. We shall start trading within the next two weeks," he said.

According to Mr Biwso, the automated trading will lead to better pricing of equities, efficiency and better liquidity in Uganda's stock market.

The move, according to Mr Biwso, will also: "... attract both foreign and local investors because it allows participation from any location provided they have access to computer and internet connectivity."

USE has 16 listed companies, eight of which are local listings and the other eight are cross listed companies of Kenya.

Mr Keith Kalyegira, the Capital Markets Authority chief executive officer, confirmed to Daily Monitor they are in advance stages of approving USE's application to start automated trading.