InfoTech Group, a Pakistani systems integrator and software provider, recently deployed its Capizar® Automated Trading Platform at BODIVA, the Angola Debt and Stock Exchange. The contract was signed in 2020 after an extensive international tendering process, to provide the market operator with Capizar® ATS, a comprehensive automated trading platform, along with Capizar® CSD Clearing, Settlement and Electronic Depository system. The system successfully went live in July 2021. This implementation was unique in a way as it commenced on the onset of the pandemic lockdowns in March 2020 but both the teams worked closely, and entirely remotely, to ensure that the COVID restrictions do not impact the overall project timelines.
BODIVA is one of the fastest-growing exchanges in Africa. The new system is expected to bring in investment-product innovation as well as providing market access to retail and individual investors. Mr. Walter da Cruz Pacheco, CEO of BODIVA remarked: “The successful implementation of Capizar® platform marks a significant step in BODIVA’s development trajectory. Despite the constrains posed by distance and time zone differences, INFOTECH and BODIVA project team worked very hard to deliver to the market a better, more dynamic, safe and robust trading and settlement environment. Although
there are a few features yet to be deployed, our trading members are satisfied with the improvements made thus far and it has reflected in a more speedy and efficient trading activity and consequently an increase in trading volume. It was a necessary change, and Capizar® did not fall short of our
expectations.”
Notwithstanding the pandemic travel restrictions, the language barrier, the time difference, both teams, InfoTech and BODIVA, worked in perfect harmony from their respective offices in Lahore and Luanda and made the project a benchmark for success.
To mark the occasion, Haris Naseer, Director Business Operations at InfoTech, commented, “At InfoTech we take pride in our approach of continuous enhancement and innovation in product development. Our foremost priority remains timely delivery and support of our solutions across all our client markets. We are proud of our partnership with BODIVA and hope to be a long-term technology consultant for them. All project milestones, from project kickoff till Go-Live were achieved timely, smoothly, and most importantly, remotely. I congratulate BODIVA, the Ministry of Finance, and other market participants and their teams for their outstanding contributions towards making this not just a successful but also an exemplary project for the Angolan Capital & Financial Markets.”
The implementation of Capizar® suite will bring more efficiency and scale to BODIVA. The new system will enable trading in yield, allow verification of positions in real time and give independence to the broker regarding the process of opening, maintaining, and managing customer accounts. The
transformation will provide easy access to issuers and manifest favorable conditions for access to investors in addition to the monetary benefits associated with capital gains. Furthermore, the market surveillance system and central counterparty functions will foster immense confidence in operations. Consequently, BODIVA will be in a better position to gain confidence of their investors and ultimately facilitate market growth.
PRESS RELEASE
About InfoTech:
Established in 1995, InfoTech is a System Integrator and Software company with specialized focus on Financial & Capital Markets, GovTech (G2B & G2C Services), RegTech (Regulations, Compliances, Fraud Detection) and Connected & Smart Governments. Over 600 professionals remain busy serving our clients with end-to-end solutions through a network of 6 offices. InfoTech’s products and services offer a blend of technology, domain expertise, and change consulting expertise to deliver results at rapid speed and low delivery risk. ISO 9001 and 27001 certifications along with CMMI Level 3 software development standards ensure world-class quality of product and solutions, and its global presence in multiple continents – Asia, Africa, Europe, Middle East and South America – empowers InfoTech for strong delivery channels and post implementation support regionally.
About Capizar®:
InfoTech’s award winning suite Capizar®, is one of the most comprehensive and effective capital markets suites in the world serving end-to-end requirements of each market player. With implementations in 13 markets across the globe, Capizar® has become the ultimate choice for market operators, intermediaries
and regulators.