Trading on RSE is conducted through a dual process

• An open outcry trading session is conducted at the trading floor during formal trading hours (9:00 a.m – 12:00 p.m).
• Members trade through an Over the Counter market (OTC) where a member is allowed to buy or sell directly to clients in their offices. Equally members are allowed to transact with other members either face to face or through the telephone after the formal trading hours of the normal working days.  All OTC transactions have to be reported to RSE not later than 1 hour after the transaction(s), and shall be reported in the next formal trading session for purposes of settlement. 

CLEARING AND SETTLEMENT ON THE RSE MARKET

 The outcome of the clearing and settlement process is the transfer of ownership of the securities transacted on the RSE market from the seller to the buyer and the transfer of funds for the same securities from the buyer to the seller. 

 CSD will provide Central Depository Agents (CDAs) and their Settlement Banks with their respective Initial Settlement Reports by 3.30 pm. on T.CSD will provide CDAs and their Settlement banks with their respective Final Settlement Reports by 3.30 pm on T+4.

Each CDA must have funds available in the settlement account with its Settlement Bank in accordance with the Final Settlement Report before 5.00 pm on T+4.The Settlement bank shall notify each CDAs’ settlement position to the CSD on T+4, 5.00  pm. CSD will submit to the Clearing  Bank Settlement Instructions in respect of trades effected on trade day T on T+5, 9.00 a.m.The Settlement Bank shall transfer funds for settlement in accordance with the Settlement Instructions, by 10.00 am on T+5.The Clearing Bank will confirm settlement of funds by fax (or any other mode as may be agreed from time to time) to the CSD immediately whereupon CSD will forthwith transfer the securities. The settlement of funds and movement of securities shall in any case occur by 10.00 am.