The guys' behind mystocks.co.ke have now created a live stream from the NSE bringing us closer to the dream online trading destination. For those who keep a close eye on their shares (i.e. do analysis), it also shows buy and sell orders.
The only drawback so far is that their close of business prices don't tally with those of the NSE because while theirs is based on the price of the last traded volume, that of the NSE is supposedly based on VWAP i.e. turnover (in value terms) divided by volumes traded.
The other thing to note is that unlike previously where vendors paid a nominal fee, NSE will now be charging for this data as part as an income stream meaning that the vendors (eight.co.ke are the other), may start charging us investors for the same including the close of day prices. Hopefully the NSE charges will be reduced to reflect this additional cost to investors.
4 comments:
Kenya still has a long way to go before there can be online trading. I don't think the brokers would embrace this as they prefer to play games with investors.
Also, online banking is still in its infancy in Kenya.
Ssem, I'll take you down memory. A yr ago...
Prices: Most of us had to wait until after midnight Kenya time to get prices from the Daily Nation to get shares prices , now we've two web sites where you can monitor the live trades and 3pm Kenyan time you can view your portfolio. Most brokers also send out daily market reports.
Stock orders-A yr ago, most of us relied on our relatives visiting the brokers to do our orders. Now you can send you bucks and order within 24-36hrs.
Yani, I predict we'll be trading live within the next 6-12 months. Kwanza wait we get the connected to the rest of the world.
Current charges to access the information are going for about 5k annually which is not too bad depending on the quality of the info, but just wonder whether the demand and market is there considering that most of the 750k guys currently investing in the NSE are speculators with little time for the nitty gritty of the market performance.
NSE is however moving in the right direction though playing catch up with the investors expectations
www.myhisa.co.ke is a website that is ran by a stocks agency in Nairobi. The website allows you to place orders online. This means that we are not close to online trading but we are actually already there. The goodness with using an agent is that they follow up the orders for you and there is no any extra charges for that since they are under the Brokers salary. Have a look at that website and see where the future is.
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