Share dematerialisation at CDC more than triples in September

0
234
  • Security Deposits increased by 225%
  • Demat Ratio remained at 50.5%
  • 436 new accounts opened

Chengetedza Depository Company (CDC) registered a 225% increase in security deposits in the month of September, culminating in the best monthly turnover outturn on the ZSE in post dollarization trades.

In an operating update issued by the company, CDC processed a total of 621 securities deposits compared to 191 in August 2020 bringing the cumulative total to 87,652 up from 87,031 in August while the average Dematerialisation penetration ratio (Demat Ratio) across all counters remained at 50.5% as at 30 September 2020.

Dematerialisation refers to the move from physical certificates to electronic bookkeeping. Actual stock certificates are then removed and retired from circulation in exchange for electronic recording.

Meanwhile, 436 new accounts were opened under CDC during the month of September, representing also a 225% increase from the total number of accounts opened in August which stood at 134. This increase brought the cumulative number of accounts opened to 29,758 of which 94% are local investors

The ZSE Equities Market gained by 17.5% to close the month of September with a market capitalization of ZWL$206.50 billion compared to ZWL$175.68 billion at close of August 2020.

The Central Securities Depository (CSD) also processed a total of 4039 trades during the month under review bringing the cumulative number of trades processed in 2020 to 33,602 with a market value of US$18,4 billion.

Chengetedzai Depository Company Limited is a limited company incorporated in terms of the laws of Zimbabwe and was formed to establish and operate a central securities depository for the Zimbabwe securities industry.

Equity Axis News

LEAVE A REPLY

Please enter your comment!
Please enter your name here