GSE Boss Assures Investors
Author: Daily Graphic - Daily Graphic
Date: Mon, 01 Dec 2008
Date: Mon, 01 Dec 2008
THE Managing Director of the Ghana Stock Exchange (GSE), Mr Kofi Yamoah, has assured the investing public and market operators that last Tuesday's fire outbreak at the floor of the exchange will in no way affect the smooth operations of the market.
He said documents at the data centre as well as the central depository are all safe and that investors had no cause to panic.
Mr Yamoah, in an interview said during the listing of UT Financial Services on the floor of the exchange it experienced a high rate of power outages which forced the exchange to undertake the listing without any power supply.
He said to ensure that the exchange was secured all lights and equipment were switched off.
The managing director said none of the office equipment was damaged with the exception of the ceiling and other wood works on the floor.
“I can confidently say that no records were lost and, therefore, investors are assured that our database is safe. The data centre is intact, so are the automated floor and the security depository", Mr Yamoah stated.
The exchange is in the process of switching from the traditional open outcry model in which traders strike deals face-to-face, to an automated remote electronic trading system.
According to Mr Yamoah the trading has been shifted to the premises of the Ghana Export Promotion Council offices just directly opposite the Cedi House which houses the stock exchange. “We have come a long way only for this unfortunate incident to happen to us”, the managing director said and said within the next few days things should be brought to normalcy.
