By Peter Kaujju

THE Uganda Securities Exchange (USE) has started trading three days a week, up from the previous two days.

Simon Rutega, the chief executive officer, said yesterday that the move would enhance liquidity on the eight-counter exchange.

He said the development followed increasing trade volumes and was a step towards the progression of trading five days a week.

“We have decided to adjust and bring the number of trading days to three per week.

“This will have a positive impact on enhancing liquidity of the exchange.
“Our trade volumes have been growing as witnessed in the market and it is part of our progression to trade five days per week,” Rutega said.

The stock exchange will now trade on Monday, Tuesday and Thursday.
Previously, it used to trade only on Tuesday and Thursday every week.

Rutega said the sector was growing and opening of the third trading day was a reflection of maturity in the market.

“The market is now robust with many local and cross- listings. We are looking at increasing the number of products on the exchange,” Rutega said.
Brokers welcomed the move.