Brokerage firm EFG Hermes Kenya tied up with the Nairobi Securities Exchange (NSE) to launch a trading platform that provides real-time access to the equities market.
The online equity-trading platform, EFG Hermes One, will offer retail investors seamless and convenient stock trading on the Nairobi Securities Exchange (NSE).
EFG Hermes Kenya seeks to capitalize on Kenya’s high mobile phone penetration rate by leveraging digital channels to deliver efficient, convenient, and comprehensive services able to meet investors’ needs.
“The launch of EFG Hermes One in Kenya forms part of our strategy to further extend our expertise and operational excellence, which has been met with immense success since the launch of our local operations in 2017, in order to further serve retail clients,” said Muathi Kilonzo, Head of Equities at EFG Hermes Kenya.
“Increasing our service offering to retail clients will increase trading volumes resulting in improved liquidity and more listings, allowing growth, and creating more opportunities for both retail and institutional investors,” Muathi Kilonzo, Head of Equities. #EFGHermesOne pic.twitter.com/YFMODVF0h7
— EFG Hermes Kenya (@efghermeske) July 5, 2021
In addition to executing trades, EFG Hermes One users can access real-time stock quotes; place, track, review, edit and cancel open orders. Users can also build, monitor, and customize equity watch lists for individual stocks, stock portfolios and their investment portfolios in real-time.
Users can also access comprehensive portfolio reports, featuring key information including executed trades, dividend payments as well as a provision to review order history and invoices on their transactions.
“The launch of the application comes on the heels of the NSE’s introduction of day trading for retail investors, allowing them to buy and sell stocks as well as settle trades in a single day. The move is an integral part of our desire to open up the market to further retail participation, see more equities listed on the NSE and grow the value of our equity markets to 50% of Kenya’s GDP,” said Geoffrey Odundo, NSE Chief Executive.
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