In July, CDC introduced a second settlement window with the Reserve Bank of Zimbabwe (RBZ) to enable intra-day recycling of failed trades and reduce risk of settlement failures on the equities market.
Campbell Musiiwa, the company's chief executive, said barely a month after the introduction of the second window, a number of failed trades has been settled through the central bank window.
"As the market and economic volatility increases, CDC has also recorded an increase in enquiries for early settlement," he said in an operational update for September 2018.
"The second settlement window has been in operation for a month now. During this month, the second settlement window has been used on a number of times to ensure that trades that failed to meet the morning settlement window on T+3, settle on time," Musiiwa said.
He added that going forward, the second settlement window will be critical in enabling investors get early settlement.
The settlement cycle refers to a period between trade execution, registration of securities' ownership transferal, and actual payment for the transaction value.
According to Musiiwa, same-day settlement is also now possible in cases where two participants have agreed to enter into such an arrangement.
He indicated that in the short to medium term, the company will continue to pursue efforts towards the introduction of new products in order to enhance the market depth and widen its revenue base.
Meanwhile, a total 451 new accounts were opened on the CSD in September 2018, bringing the total number to 25,130.
Overall, local investors dominate the CSD accounts, accounting for 94 percent.
During the period under review, the Zimbabwe Stock Exchange (ZSE)'s market capitalisation declined by 7,9 percent from $ 12,3 billion as at 31 August 2018 to $12,266 billion as at 30 September 2018.
"The market value of the securities placed on the CSD also decreased by 0,7 percent from $5,6billion as at August 31, 2018 to $5,561billionas at 30September 2018. Dematerialised securities accounted for 45 percent of the ZSE Equities market capitalisation as at September 30, 2018," Musiiwa said.
He said the cumulative number of securities deposits processed since going live is now 68,596 after CDC processed 1,782 securities deposits in September 2018.
The average dematerialization penetration ratio across all counters increased marginally from 41 percent as at 31 August2018 to 42 percent as at September 2018.
