{"id":3985,"date":"2015-09-22T05:48:47","date_gmt":"2015-09-22T09:48:47","guid":{"rendered":"https:\/\/www.bloomberg.com\/company\/press\/bloomberg-and-the-ghana-fixed-income-market-gfim-launch-trading-system-for-ghanaian-government-bonds\/"},"modified":"2015-09-22T05:48:47","modified_gmt":"2015-09-22T09:48:47","slug":"bloomberg-and-the-ghana-fixed-income-market-gfim-launch-trading-system-for-ghanaian-government-bonds","status":"publish","type":"press","link":"https:\/\/www.bloomberg.com\/company\/press\/bloomberg-and-the-ghana-fixed-income-market-gfim-launch-trading-system-for-ghanaian-government-bonds\/","title":{"rendered":"Bloomberg and the Ghana Fixed Income Market (GFIM) Launch Trading System for Ghanaian Government Bonds"},"content":{"rendered":"
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Accra, Ghana – Bloomberg and the Ghana Fixed Income Market (GFIM) announce the launch of the Bloomberg E-Bond trading and market surveillance system, a new electronic trading system for Ghanaian government bonds which Bloomberg began operating in Ghana last month. GFIM, an organization operating under the Ghana Stock Exchange, acts as the sponsor of the Bloomberg E-Bond system. GFIM\u2019s 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. <\/p>\n

The Bloomberg E-Bond system provides electronic trading and market surveillance tools for participants in Ghana\u2019s 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. <\/p>\n

\u201cThe GIFM was founded by a consortium of financial institutions with a shared vision of a fairer, more transparent and more efficient market for all Ghanaian fixed income securities,\u201d says Mr. Millison Narh, Deputy Governor of the Central Bank in Ghana and Chairman of the GFIM Governing Committee. \u201cThe introduction of the Bloomberg E-Bond system is a significant step towards realizing that vision and establishing a more credible, globally competitive secondary debt market in Ghana.\u201d <\/p>\n

\u201cWe are delighted to work together with the GFIM to build a more transparent, liquid and efficient bond market in Ghana. This is the second African market, together with Nigeria, in which we have collaborated with the local market maker community to develop and successfully implement the Bloomberg E-Bond system, demonstrating our expertise in providing technical infrastructure and solutions to improve the functioning of capital markets across Africa\u201d, says David Tamburelli, Bloomberg\u2019s Head of Emerging Markets Product.<\/p>\n

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.<\/p>\n

Available to subscribers of the Bloomberg Professional service at EBND, the trading system is fully integrated with Bloomberg\u2019s data, news, analytics and communications tools to provide clients active in the Ghanaian debt market with a single, comprehensive solution. <\/p>\n\n<\/div>\n\n\n<\/div>\n\n\n\t\t\n\t<\/div>\n<\/div>\n

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About Bloomberg<\/strong>
\nBloomberg, the global business and financial information and news leader, gives influential decision makers a critical edge by connecting them to a dynamic network of information, people and ideas. The company\u2019s strength \u2013 delivering data, news and analytics through innovative technology, quickly and accurately \u2013 is at the core of the Bloomberg Professional service, which provides real time financial information to more than 325,000 subscribers globally. For more information, visit www.bloomberg.com.<\/a><\/p>\n

About GFIM<\/strong>
\nGFIM is a secondary market for all fixed income securities. All fixed income securities of the Government of Ghana (including treasury bills, notes and bonds) and Bank of Ghana money market instruments when issued shall be automatically admitted and traded on the GFIM. GFIM will thus be the only secondary market for all such local currency-denominated fixed income securities. In addition, quasi-Government of Ghana institutions\u2019 money market instruments, notes and bonds; corporate notes and bonds; local government authorities bonds; supra-national bonds; and other fixed income or money market securities, when issued, may be admitted and traded on the GFIM.<\/p>\n\n<\/div>\n\n\n<\/div>\n\n\n\t\t\n\t<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

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