The Central Bank of Kenya launches Bloomberg’s BMatch

The Central Bank of Kenya has launched of Bloomberg’s BMatch solution for interbank trading in the local foreign exchange market.

Bloomberg says BMatch offers spot matching functionality to the interbank community for US Dollar against the Kenyan Shilling. BMatch allows anonymous orders to be placed into a central limit order book, which are displayed and then matched with counterparty orders based on mutual trading limits and other parameters configured by each bank. The solution can be integrated with banks’ middle and back-office systems, added Bloomberg. Consolidated trade statistics can also be calculated and made available to the market.

“We are delighted to support the Central Bank of Kenya with our BMatch solution, which will help increase transparency, liquidity and efficiency on the local foreign exchange market. Bloomberg has extensive experience in providing robust technical infrastructure solutions for foreign exchange markets and can easily adapt these to the specific needs of any market around the world,” said Tod Van Name, Bloomberg’s global head of FX Electronic Trading.