NSE-Web-Prospectus-2014

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8.5 NSE Committees of the BoardThe Committees of the NSE Board are: Disciplinary & Compliance;Audit, Risk & Corporate Governance; Trading and Surveillance;Finance and Manpower; Business Development and PublicEducation; Listings and Admissions; and Technology.Membership is drawn from a diverse range of professionalsfrom the corporate sector. The Chairman of these committeesis a Director of the NSE. The permanent committees and theirmembership is set out below.1. Disciplinary & Compliance Committeei. Hosea Kili: Chairmanii. Winnie Nyamuteiii. Rose Mamboiv. Karim Anjarwallav. Sharon Mavialavi. Peter Mwangi2. Audit, Risk & Corporate Governance Committeei. Winnie Nyamute- Chairpersonii. Hosea Kiliiii. Lucas Otienoiv. Isaac Onyangov. Peter Mwangi3. Trading & Surveillance Committeei. Bob Karina – Chairmanii. John Odhiamboiii. Rose Mamboiv. John Kirimiv. Moses Lopokoiyitvi. Joseph Kahenyavii. Job Kihumbaviii. Peter Mwangi4. Finance & Manpower Committeei. Jonathan Ciano: Chairmanii. Geoffrey Odundoiii. Sam Kimaniiv. Andre DeSimonev. Peter Mwangi5. Business Development & Public Education Committeei. Sam Kimani: Chairmanii. Sharon Mavialaiii. Jonathan Cianoiv. Job Kihumbav. Ewart Salinsvi. Christine Mwetivii. Edward Burbidgeviii. Peter Mwangi6. Listing & Admissions Committeei. Edward Njoroge: Chairmanii. Jonathan Cianoiii. Geoffrey Odundoiv. Winnie Nyamutev. Bob Karinavi. Peter Mwangi7. Technology Committeei. Geoffrey Odundo - Chairmanii. Bob Karinaiii. Kris Senanuiv. Rose Mambov. Stanley Ngainevi. Peter Mwangi8.6 Senior ManagementNSE has the following 5 senior managers:Mr. Peter Mwangi - Chief ExecutiveSee above.Mr. Andrew Wachira – Head of Compliance & LegalMr. Wachira is the Head of Compliance & Legal at the NairobiSecurities Exchange. He joined the Exchange in the year 2000as an officer in the Compliance & Legal Department and rosethrough the ranks and was appointed to head the departmentin 2009.Andrew, a lawyer by profession, holds a Bachelor of LawDegree from the University of Nairobi and is an Advocate ofthe High Court of Kenya. He is a member of the Law Societyof Kenya.Mr. Donald Ouma- Head of Market & Product DevelopmentMr. Ouma has been the Head of Market and Product Developmentat the Nairobi Securities Exchange (NSE), since May 1 2010.His responsibilities include managing the brand of the NairobiSecurities Exchange, the marketing of the NSE’s products andservices, investor relations, public relations and the developmentand launch of new products and services.Donald is also in charge of the Exchange corporate socialresponsibility initiatives. Prior to becoming the Head of Marketand Product Development, Donald was the Manager PolicyResearch and Analysis. Donald also coordinates the affairs ofthe Secretariat of the African Securities Exchanges Association(ASEA), headquartered at the Nairobi Securities Exchange.Donald holds a MBA from the Melbourne Business School(Australia) and a BSc. in Chemical Engineering from the Universityof Maine at Orono (USA).Mr. Caleb Musau Kivuva – Head of Operations & TechnologyMr. Kivuva is the Head of Operations & Technology at theNairobi Securities Exchange (NSE) since 02 April 2013. Hejoined the NSE from GrabIT Limited where he served asDirector, IT Assurance & Advisory. Caleb holds a First ClassDegree in Education (Mathematics & Physics) from KenyattaUniversity and is currently pursuing a Master of BusinessAdministration Degree at the University of Nairobi.He is a Certified Information Security Manager, a CertifiedInformation Systems Auditor, a SAP ERP (Finance) FunctionalConsultant and a Microsoft Certified Professional.Ms. Jane Wambui Kiarie - Head of Finance & StrategyMs. Kiarie joined the NSE as Head of Finance & Strategy onNovember 5, 2012 where she is in charge of the Finance,Strategy, Administration, Human Resources and Procurementdepartments with the aim of ensuring prudent managementand control of NSE’s resources.Prior to joining the NSE, Jane had accumulated four yearsexperience as a Financial Controller/Head of Finance andAdministration in various organizations where she was also incharge of the Finance, Human Resources, Administration and38
IT departments. Jane has also worked as an AssociateConsultant with PricewaterhouseCoopers Limited, Kenya inAdvisory Consulting within the Accounting and OperationsEffectiveness line of service. In addition, she has worked withDeloitte (both in Kenya and the USA) for about 11 years inaudit where she gained valuable experience providing auditing,accounting, compliance, internal controls reviews, riskidentification and management, and financial reporting andmanagement services across many sectors of the economy.Jane holds a Master of Business Administration Degree inStrategic Management from the United States InternationalUniversity and a Bachelor of Science Degree in Mathematics(Statistics Major) from the University of Nairobi. She is also aCertified Public Accountant of Kenya and a member of theInstitute of Certified Public Accountants of Kenya.8.7 EmployeesNSE has a total of 38 who operate within the followingdepartments:a) The Operations and Technology Department;b) The Compliance and Legal Department;c) The Marketing and Product Development Department; andd) The Finance and Strategy Department.The NSE offers a variety of benefits to its employees in additionto group personal accident scheme, bonus scheme, long serviceaward and pension scheme.8.8 PremisesNSE has operated from 1st Floor, Nation Centre, Kimathi Street,Nairobi for many years. Following the acquisition of its ownmodern five storey building on 55 Westlands Road, Nairobi inDecember 2012, NSE moved its entire operations in June 2013.NSE renamed the building to “The EXchange”. NSE also maintainsan independent offsite premises as a standby location for trading/backup purposes in Westlands, Nairobi.8.9 TechnologyThe Automated Trading System is the core equities and bondstrading system owned and controlled by Nairobi SecuritiesExchange Limited. It was acquired from an international softwarevendor, went live in September 2006 and has been maintainedthrough a service level agreement.The delivery, settlement and registration system i.e. the CentralDepository System is owned and controlled by CDSC Limited. Itwas acquired from the same international software vendor in2004 and has been maintained through a service level agreement.b) It permits internet access to the system, helping TradingParticipants expand their services across all forty seven (47)counties;c) It supports initial public offers, portfolio management andcomplaints processing;d) It supports internet and mobile phone trading.The BBO System was acquired from another international softwarevendor and is being maintained through a service level agreement.Other systems include the new derivatives system.8.10 FinancialsRefer to Annexure A - Nairobi Securities Exchange Limited- Financial Information which includes Annexure A1 -Management Accounts for the Four Months Period Ended 30April 2014 and Annexure A2 - Reporting Accountants’ Reportfor 5 years ended 31 December 2013. For a snapshop refer toSection 3.1 - Financial Data .In the year 2013, NSE has had the following key sources ofincome:(1) Equities Transaction Levy(2) Fixed Income Transaction Levy(3) Annual Listing Fees(4) Initial Listings & Additional Listings(5) Interest Income(6) Data Vending(7) Broker back office subscription(8) Rental income(9) Market access.The focus of the NSE up to and including the year 2013 was noton maximizing profits and dividend payouts but more on servicedelivery of its core mandate to its many stakeholders. Followingits Offer, the above focus is set to change as NSE will include‘creating shareholder value’ amongst its core deliverables. Thischange in focus is not uncommon for exchanges that havedemutualized and/or self listed.The NSE, Kenya Association of Stockbrokers and InvestmentBanks, CMA and CDSC launched the NSE Broker Back Office (BBO)System in year 2012. The BBO System automates the back officewhich is connected with the trading platform and the clearing andsettlement platforms – minimizing manual intervention. The BBOSystem has the following benefits:-a) It automates the back office and enables senior managementto monitor and audit activities through suitable alerts andexception reports;39
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