NSE Now Allows Listed Firms And Individuals To “Trade From Home”

President Uhuru Kenyatta asked employers to allow their employees to stay at home and still work in an effort to stop the massive spread of the deadly Coronavirus.

In Kenya, the Nairobi Securities Exchange (NSE) is the most affected by the sweeping virus as it continues to register massive losses.

In the wake of the first confirmed case of Coronavirus, the NSE lost more than 500 billion shillings as investors engaged in a panic mode and took off from blue-chip companies.

For the first time, the NSE has allowed bankers, stock brokers, asset managers and individuals to remotely log into their systems and trade.

The move by NSE to allow traders to trade via its automated trading system (ATS) is set to test whether NSE had really been prepared to go online and be fully automated.

Traders will only be able to log into the NSE platform remotely using designated computers that can be accessed through secure locations. This is to prevent hackers from hacking into the system and access data for the traders.

Globally, most stock markets have shut down their physical locations and allowed brokers and traders to access them online and trade normally. However, with the increased Cybercrime activities around the world, most businesses are at risk of being hacked.

The Coronavirus Menace

Cases of Coronavirus have continued to rise across the world with the attention now shifting to Italy that seems to be on its knees as the virus ravages the country.

On Sunday, Italy registered the highest number of deaths in a day to 367 with more than 1,000 new infections registered. The country’s Intensive Care Unit (ICU) beds are overwhelmed and doctors are considering stopping taking in Coronavirus patients who are 80 years old and above and those suffering from other illnesses.

Globally, the number of deaths are past 6,000 and infections past 150,000.

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