Spokesman Report
LAHORE: 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.
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.”