Refinitiv Taps Nairobi Stock Exchange to Increase Market Transparency in Kenya
Leading financial markets data and infrastructure provider Refinitiv yesterday announced its strategic partnership with the Nairobi Stock Exchange (NSE). The new colloboration is expected to bolster Fixed Income (FI) price discovery as well as increase market transparency in Kenya.
With the partnership, the NSE will deploy Refinitiv Fixed Income Callouts, which will benefit from an automated Over the Counter (OTC) FI workflow, according to the company's official announcement.
Refinitiv Fixed Income Callouts platform offers market-wide access to a platform facilitating the negotiations and agreements of FI bond trading among banks, brokerage firms, and real-time integration with the Central Securities Depository (CSD).
Commenting on the new partnership, Geoffrey Odundo, Chief Executive Officer at the NSE, stated that they are very happy to work with Refinitiv and the fixed income community in a bid to drive innovations in Kenya market and adopt global best practices. The combination of Refinitiv’s trading workflow and NSE’s post-trade system will help improve trade life cycle, reduce operational risks and encourage price discovery and transparency in the market.
Nadim Najjar, Managing Director, Middle East and Africa, Refinitiv, added that they are proud to partner with the NSE and the local regulators to foster transparency, latency and liquidity. Refinitiv Fixed Income Callouts will allow market participants to benefit from real-time price discovery across bonds and bills. The deployment will also facilitate collaboration among Kenyan banks, brokerage firms, and the CSD.
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