The Central Bank of Kenya (CBK) has opened access to its new electronic forex trading platform to non-bank actors, paving the way for large dollar holders to sell their stock to the highest bidder in an open market.
According to rules published by the CBK on the new platform, which is known as Electronic Matching Systems (EMS), non-bank system participants will be limited to only selling forex on the platform, meaning that purchases will still have to be made via their commercial bankers.
