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
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The new system, according to the NSE, will enhance its recent shift to a same-day settlement model for bonds expected to improve turnover.
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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