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Young investors flock online stock trading

    Online trading of shares is attracting a youthful generation of investors who take advantage of the convenience of the internet.Due to a new product from the Nairobi Security Exchange (NSE), it is possible for anyone with shares to buy and sell them online without having to go through stockbrokers. The new system which is available to anyone who opens a trading account with investment group, SBG Securities Limited,links the NSE to back office systems at the offices of stockbrokers and the Central Depository and Settlement Corporation (CDSC).
     The CDSC is the official custodian of clearing and settlement services in the capital markets and ensures investor's transactions are fast,safe and secure. The service comes at a time when more youth are being encourage to trade shares at NSE. In April 2008, the bourse launched the annual NSE Smart Youth Investment Challenge to promote stock market investments among Kenya's young adults. This year's event offered up to Ksh.200,000 cash prizes to participants. The system comes days before the NSE sella 63.5 million of its shares to the public at a price of Ksh.9.50 per share on 23/07/2014.
     To use the service, investors are charged a negotiable commission based on the number of shares they want to trade. A 2.17 per cent commission, which also includes charges paid to NSE and CDSC and an investor compensation fund, is charged for deals worth up to Ksh.100,000. Amounts above the figure attracts a negotiable fee.

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