The Central Bank of Kenya has launched Bloomberg’s Electronic Matching System (EMS), BMatch, for interbank tr
The Central Bank of Kenya has launched Bloomberg’s Electronic Matching System (EMS), BMatch, for interbank trading in the local foreign exchange market.
Specifically, the solution offers spot matching functionality for US dollar against Kenyan shilling, allowing anonymous orders to be placed into a central limit order book.
These orders are displayed and subsequently matched with counterparty orders “based on mutual trading limits and other parameters configured by each bank”.
In addition, BMatch is able to be integrated with each banks’ middle and back-office systems and consolidated trade statistics can be made available to the wider market.
Read more: Bloomberg enhances offering with new FX pricing quality tools
Tod Van Name, global head of FX electronic trading at Bloomberg, said: “We are delighted to support the Central Bank of Kenya with our BMatch solution, which will help increase transparency, liquidity and efficiency on the local foreign exchange market. Bloomberg has extensive experience in providing robust technical infrastructure solutions for foreign exchange markets and can easily adapt these to the specific needs of any market around the world.”
Last March, the Central Bank of Azerbaijan (CBA) also adopted Bloomberg’s FXGO solutions, which included market surveillance tools, as well as BMatch and a deposit trading solution.
www.thetradenews.com
COMMENTS