I Tried Selling Shares But I Receive An Error 'Insufficient Securities for Transaction'
The Nairobi Securities Exchange has a settlement period of three working days. This means when you buy shares, it takes 3 days for the shares to be transferred from the previous owner to you. The period is called the settlement duration/period. This process is similar to receiving a cheque. When you take your a cheque to the bank, the cash is not immediately deposited into your account, but you have to wait a period of time before settlement.
Example.
You buy Safaricom (SCOM) shares on Thursday morning. It will take 3 days for your shares to settle that means Friday, Monday and Tuesday. From Wednesday morning you can decide to sell the shares.
The good news is that the Nairobi Securities Exchange (NSE) wants to reduce the settlement period to immediate settlement. Also known as Intraday trading. This however has no timeline of when it will be released.
Source: Business Daily ( http://www.businessdailyafrica.com/markets/System-upgrade-delays-start-of-same-day-shares-trading/539552-3875458-xn9y3yz/ )
Happy Investing 😊
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