The mechanics of buying and selling shares To buy or sell shares traded on SEM, your order must be placed with a stockbroking company, typically over the telephone or online via the internet. Orders to buy and sell shares are entered into SEM’s Stock Exchange Automated Trading System (SEMATS) by the stockbroking company. The orders are entered by approved operators within intermediate dealers’ offices using SEMATS terminals located in their offices SEMATS matches the buy and sell orders placed by stockbroking company. Each stockbroking company has in his office a computer terminal connected with a server located at the SEM. The central system software consists of an electronic order book which enables stockbroking companies to post their buy and sell orders on behalf of their clients. When an order is matched, the stockbroking company receives immediately a confirmation of the execution of the trade. Likewise investors, from the comfort of their home or office, can follow the stock market on a real-time basis and act on a real-time basis. Through SEM’s website (www.stockexchangeofmauritius.com), investors are able to access I-NET, the internet-based routing mechanism, assess the market situation and place orders to their stockbroking companies. These orders will then be validated by the stockbroking company and transmitted to SEM’s trading system for matching.
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