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Business News of Sunday, 7 August 2016

Source: citifmonline.com

GSE to introduce single window market on Bloomberg

The Ghana Stock Exchange(GSE) has announced that it is working on creating a single window market through the Bloomberg platform for trading of bonds on the Ghana Fixed Income Market by close of 2016.

The Ghana Fixed Income Market which was created as a secondary market to manage debt instruments currently operates only government bonds.

Speaking to Citi Business News, the Deputy Managing Director of the Ghana Stock Exchange (GSE), Ekow Afedzie stated that the market will soon introduce corporate and municipal bonds by close of the year. “By end of the year we will have one single window that is using the Bloomberg to do all the bond trading,” he announced.

He explained that investors will have the opportunity to buy bonds and sell along the line without waiting for it to mature in the long term.

He pointed out that the ability to sell the bonds in the short term will provide investors liquidity to access funds in the short period. “That is what makes the Ghana Fixed Income Market a secondary market with unique advantages. You need not keep your investment for a long time. Most investors like debt instrument,” he said.

Mr. Afedzie stated that the market will also provide investors with options to move their funds freely.

“This is what investors desire, the freedom to move their funds anywhere they want it to go so that you don’t lock up their money”. He assured that plans are advanced to roll it out on the Bloomberg platform by close of the year.

He stated that if the idea to allow MMDAs to raise their own funds commences, the Ghana Fixed Income Market will be the appropriate place for raising such bonds.