| dc.description.abstract | The study was conducted with the objective of assessing the performance of the
Nairobi Stock Exchange before and after the implementation of automated trading
systems (ATS).
A survey was carried out on 49 companies that were continuously listed at the NSE
during the period of study. The data collected was on market capitalization, value of
shares traded, number of shares traded, number of transactions and the NSE 20
share index. The data collected was analysed using descriptive statistics. The mean,
standard deviation and variances for the pre and post ATS period were calculated
and compared.
The findings of the study indicated that there was remarkable growth after the
implementation of the ATS in market capitalization, number of shares traded, value
of shares traded, number of deals and the NSE 20 share index. The ANOVA results
revealed that the growth in all the performance indicators considered was
significant. Based on these research findings, it was concluded that the implementation of
automated trading systems at the NSE led to improved performance of the stock
market. Hence the study recommends that the NSE moves to the third phase of
stock market automation by linking the stock market with the payment system to
fully gain from automation. | en |
