The Bank of Ghana (BoG) has announced changes in the issue and trading of Government of Ghana (GOG) securities.
According to the central bank, only financial institutions licensed by the Securities and Exchange Commission and appointed by BoG as Primary Dealers (PDs) would participate at the wholesale primary auction to purchase GOG securities for their own account and for trading purposes, effective July 1, 2016.
A statement copied to Citi Business News explained that the changes are aimed at strengthening the primary dealership system, facilitate the development of the fixed income market and create a favourable environment for private sector investors to make best site buy accutane online their investment decisions.
The statement further clarified that the Primary Dealers are obliged to act as market makers in GOG securities, and must quote two-way prices.
In addition, all other investors interested in purchasing, or sale of Government of Ghana securities must do so only on the secondary market activities.
The licensed PDs include; Access Bank Ghana , ARB Apex Bank, Barclays Bank Ghana Limited , Cal Bank ,. Ecobank, Fidelity Bank, First Atlantic Bank and GCB Ltd
The rest are; GT Bank , National Investment Bank , Universal Merchant Bank , UniBank , SG Bank, Stanbic Bank and Standard Chartered Bank.
By: Lawrence Segbefia/citibusinessnews.com/Ghana