Money Markets
The new bond system is integrated with the settlement system at Central
Bank of Kenya and allows online trading of debt securities. PHOTO | FILE
| NATION MEDIA GROUP
By CHARLES MWANIKI
In Summary
The Nairobi Securities Exchange (NSE) has launched a
new trading system that enables listing and trading of foreign-currency
bonds, probably bringing closer local listing of the Eurobond. The new
bond system is integrated with the settlement system at Central Bank of
Kenya and allows online trading of debt securities.
NSE said it also supports market making, integration with
regulatory systems and over the counter deals’ reporting. “With this
development, we look forward to the listing of the government of Kenya
Sovereign Bond on the exchange,” said NSE chief executive Peter Mwangi.
The new system, according to the NSE, will enhance
its recent shift to a same-day settlement model for bonds expected to
improve turnover.
On the equities side, Equity Bank
stock saw a minor reversal of its slide to gain Sh1.50 to Sh53.50, at
the close of a week during which the bank was the centre of attention
over the MVNO licence award dispute that has also roped in parliament.
During the week the counter lost 6.1 per cent in value.
The NSE 20 share index meanwhile continued its
downward trend for the fourth straight session, losing 32 points to
close at 5216. Over the week, the index shed 1.7 per cent, climbing down
from its six year high of 5406 points.
Centum was the biggest loser shedding 17.5 per cent
in value during the week to close at Sh60 on profit taking and reduced
demand.
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