Govt launches electronic bond market

quist

September 25, 2015 12:46 PM

A new electronic trading system for government bonds has been rolled out.

Bloomberg and the Ghana Fixed Income Market (GFIM) launched the Bloomberg E-Bond trading and market surveillance system recently.

GFIM, an organization operating under the Ghana Stock Exchange, acts as the sponsor of the Bloomberg E-Bond system.

GFIM’s governing committee is comprised of representatives of the Bank of Ghana, the Ghana Stock Exchange, the Central Securities Depository Ltd, the Association of Banks in Ghana, ACI Ghana and Licensed Dealing Members of the Ghana Stock Exchange.

The Bloomberg E-Bond system provides electronic trading and market surveillance tools for participants in Ghana’s USD 7.7 billion (GHS 28.9 billion) fixed income market. The system will be the primary execution platform for all fixed income trading under newly-established securities exchange, the GFIM.

says Mr. Millison Narh, Deputy Governor of the Central Bank in Ghana and Chairman of the GFIM Governing Committee.

says David Tamburelli, Bloomberg’s Head of Emerging Markets Product.

The Bloomberg E-Bond system provides a complete, consolidated marketplace for Ghanaian government bonds, offering market participants a robust and flexible set of tools supporting the full trade workflow.

This includes pre-trade price discovery and analytical tools, the ability to handle both multi-dealer request-for-quote (RFQ) and order trading, straight-through processing (STP) functionality and integrated trade capture and reporting tools.

In addition, market oversight entities and regulators can use the system to review market activity and audit transactions.

Available to subscribers of the Bloomberg Professional service at EBND<GO>, the trading system is fully integrated with Bloomberg’s data, news, analytics and communications tools to provide clients active in the Ghanaian debt market with a single, comprehensive solution.

Source: Joy FM

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