Record activity at local exchange
Record activity at local exchange
The Cambodia Securities Exchange (CSX) experienced a whirlwind of activity early this week that saw almost 300,000 shares traded in five days, breaking the record for average daily volumes.
In a press release on Thursday, CSX said the uptick began on June 13 when 24,713 shares traded hands. On Tuesday that number jumped to 64,666 before skyrocketing to 131,279 on Wednesday.
Before this period of rapid trading, the average amount of shares traded daily this year was only 7,845.
New tech
Explaining the sudden spike in activity, Lamun Soleil, the director of marketing operations at CSX, said a new order-facilitation system called market order (MO) had been implemented which allowed for faster trades in higher amounts.
“If we want to buy or sell tens of thousands of shares, we use MO as it works faster. When using it, we do not focus much on the price but on sell-out and buy-in,” he said.
MO is an operational tool that allows investors to trade shares at the best market price. It was officially implemented on January 9 in response to demands from investors who want quick trades.
Soleil said MO helps sellers to quickly dispose of shares, and buyers to purchase at the best price available.
The CSX index rose 1.06 percent on Thursday with a trading volume of 18,686 shares and total trading value of some $14,000.
There are currently five firms listed on the CSX.
