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How OTC for State securities will affect market
The fact that banks hold 45 percent of government securities, making them the biggest source of trades, amplifies the risk of revenue loss should they end up being the key players in the OTC market.
The Central Bank of Kenya (CBK) has recently published draft guidelines on establishment of an over-the-counter (OTC) market for government securities.
One of the changes to the market in the proposed system will see introduction of market makers, or liquidity providers.
