Tuesday, April 23, 2024
No menu items!

Top 5 This Week

bama cap

Related Posts

Kenyan government automates over the counter trading for treasury bills

DCF 1.0The Central bank of Kenya has automated Over-The-Counter (OTC) trading for Treasury bills which previously was transacted using physical forms.

In a press statement, the forex trading activity was restricted to commercial banks with only the 364 day Treasury bills allowed to trade.

“The Bank wishes to inform all investors that it is now possible to buy or sell Treasury bills of all tenors (i.e. 91, 182 and 364 days) electronically by transmitting trade instructions through use of SWIFT messages MT541 and MT543,” said  Mwenda K. Marete Asst. Director , Financial markets department.

- Ad -

“All commercial banks can immediately access this trading platform through SWIFT,” he continued.

Investors with no direct access to SWIFT connectivity will be required to get into an agency arrangement with their commercial banks in order to use these banks’ SWIFT networks to transmit instructions for Treasury bills trades. To back up this arrangement, the investors will be required to execute a ‘Deed of Indemnity’ to CBK. This will be available on the CBK Website.

- Ad-
Susan Mwenesi
Susan Mwenesi
Interested in business, technology and all things startups in Africa!

Popular Articles