Citi Business News has gathered that the Ghana Stock Exchange’s Ghana Fixed Income Market (GFIM) will take off at the end of August this year.
[contextly_sidebar id=”tmovItiIQwKMOHPfjjpomVYic2aBNNMg”]The Ghana Fixed Income Market is to provide a fair, orderly, transparent and efficient market for all fixed income and similar securities.
The GFIM being the first of its kind in the country was formed through a joint initiative of the Bank of Ghana, the Ghana Stock Exchange, the Central Securities Depository Ghana Ltd (CSD), the Ghana Association of Bankers (GAB), ACI Ghana (association of bank dealers) and Licensed Dealing Members (LDMs) of the Ghana Stock Exchange.
It is to help ensure real time settlement of securities, where transactions in the fixed income and secondary market will be linked together by the Bloomberg L. P. Cash system, an electronic system that facilitates real time settlement of transactions. Speaking to Citi Business News Managing Director of the GSE Kofi Yamoah said the objective of the GFIM is to bring secondary trading activities in fixed income securities in Ghana to international best practice standards.
“We intend to go live on the Ghana fixed income market somewhere before the end of august and it will be dedicated to all fixed income securities and the afb bond listing is a fixed income security.”
Managing Director of the GSE Kofi Yamoah hinted citi business news that afb listings would be automatically moved to the fixed income market when its launched plus all corporate debt instruments as well.
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By: Norvan Acquah – Hayford/citifmonline.com/Ghana