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Harare Bureau
THE Financial Traders’ Association of Zimbabwe has rebranded to ACI-Zimbabwe following the approval of its application to join the world’s financial markets group by ACI International.

The ACI Council unanimously agreed on approving FTAZ’s candidacy to become a new ACI National Association at its meeting this month, according to the local association’s president Collin Kapende.

“I’m pleased to inform you that our association is now officially ACI-Zimbabwe,” Kapende told our Harare Bureau yesterday.

“Joining ACI is joining a worldwide professional and multi-faceted expert team perpetually adapting to the fast moving world and our members are set to benefit from this network through training and exposure to international markets,” said Kapende.

Zimbabwe becomes the ninth African member country in the financial markets association joining South Africa, Kenya, Mauritius, Nigeria, Tanzania, Zambia, Uganda and Ghana.

Kapende said the approval of the application will bring Zimbabwe’s financial markets to international best practices. The ACI — Financial Markets Association offers a platform for fellowship among ACI members to take advantage of opportunities the world over. It assists a broad array of market participants from all sectors in financial services, from sell-side bankers and brokers to buy-side clients and regulators.

ACI is a non-profit and non-political association of wholesale financial market professionals. Members of ACI are largely engaged in financial trading or sales environment in the global financial markets representing foreign exchange, interest rate products and other securities, bank notes, precious metals and commodities and derivatives. It has 13,000 international members from more than 60 countries.ACI-Zimbabwe will be officially launched in January.

FTAZ represents more than 100 financial markets dealers who buy and sell securities or financial instruments for and on behalf of financial institutions and analyse financial markets.It draws its membership from 21 financial institutions including the Reserve Bank of Zimbabwe.