Trading System

Bourse Africa Limited’ robust and scalable trading environment offers trading on multi-asset classes through the Trader WorkStation (TWS) and other Independent Software Vendors (ISV) applications.

The TWS is an application through which Members access the trading platform, place orders and execute trades.

The TWS offers a multitude of key user-friendly trading features which include Price Ticker, Top Gainer and Loser products, Net Position, On-line Backup facility and Market Watch screen displaying best Buy, best Sell, Last Traded Price (LTP), Volume for the day, and Open Interest among other information.

Additionally, Members can also use their existing Front-End application through Exchange FIX Gateway which supports FIX 4.2 protocol standard.

Trading System

  • In the Trading system, orders are matched based on price time priority logic. Orders can be placed with time conditions and/or price conditions. The best five Buy and Sell orders for every contract available for trading are visible to the market.

Time-related Conditions

  • Day Order - A day order is valid for the day on which it is entered. If the order is not matched during the day, the order gets cancelled automatically at the end of trading day.
  • IOC - An Immediate or Cancel (IOC) order allows a Member to execute the orders as soon as the same is placed in the market, failing which the order will get cancelled immediately.

Price Conditions

  • Limit Order – The order wherein the price is to be specified while placing the same.
  • Market Order – The order at the best available price at the time of placing the same.