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+ADw-p+AD4APA-span style+AD0-'font-family:Arial'+AD4-The mission of the Namibian Stock Exchange
is to provide the most fair, efficient, liquid, transparent and computerised
market for trading securities as a cost-effective way for Namibian and
foreign investors to channel their savings into productive investments which
help develop +ADw-/span+AD4APA-st1:country-region+AD4APA-st1:place+AD4APA-span style+AD0-'font-family:
Arial'+AD4-Namibia+ADw-/span+AD4APA-/st1:place+AD4APA-/st1:country-region+AD4APA-span
style+AD0-'font-family:Arial'+AD4-'s economy.+ADw-/span+AD4APA-/p+AD4-
+ADw-p+AD4APA-span style+AD0-'font-family:Arial'+AD4-The Namibian Stock Exchange has a
Guarantee Fund in place to the value of N+ACQ-0.5 million as well as an +ACY-quot+ADs-In
Out Policy+ACY-quot+ADs- for a maximum of over of N+ACQ-10 million. Each stockbroker also
has to be insured for the minimum amount of N+ACQ-10 million.+ADw-/span+AD4APA-/p+AD4-
+ADw-p+AD4APA-span style+AD0-'font-family:Arial'+AD4-Investors are protected through the Stock
Exchange Control Act, the Rules and Directives and the Companies Act which
ensures fair trading practices.+ADw-/span+AD4APA-/p+AD4-
+ADw-p+AD4APA-span style+AD0-'font-family:Arial'+AD4-In order to ensure fair trading, the
Namibian Stock Exchange Rules and Directives requires immediate entry of orders
in the trading system, taking into consideration price and time priority.
Price manipulation is an offence in terms of the Stock Exchange Control Act
and Insider trading is prohibited in terms of the Companies Act.+ADw-/span+AD4APA-/p+AD4-
+ADw-p+AD4APA-span style+AD0-'font-family:Arial'+AD4-Currently, there are four stockbroking
members in four stockbroking firms that are registered members of the
Namibian Stock Exchange.+ADw-br+AD4-
The NSX monitors the trading as well as back office operations of these
members.+ADw-br+AD4-
The trading in monitored on a daily basis via the SETS system and a close eye
is kept on deals for possible price manipulation or insider trading.+ADw-/span+AD4APA-/p+AD4-
+ADw-p+AD4APA-span style+AD0-'font-family:Arial'+AD4-The Surveillance department of the
Namibian Stock Exchange has via Broker Deal Accounting (BDA), access to the
members back office operations. Reports are printed daily from BDA and checked
for irregularities.+ADw-br+AD4-
Furthermore, it is required from the members and their external auditors to
submit regular reports on the state of affairs of the members. For example,
their operations are adequately funded and that client's monies and scrip are
protected.+ADw-/span+AD4APA-/p+AD4-
+ADw-p+AD4APA-b+AD4APA-span style+AD0-'font-size:10.0pt+ADs-font-family:Arial'+AD4-For detailed
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