Kenya Taps Bloomberg for Interbank FX Platform

The Central Bank of Kenya has deployed Bloomberg’s BMatch spot matching platform for the local interbank FX market in dollar-shilling.

BMatch is an anonymous central limit order book, which displays and then matches orders with counterparty orders based on mutual trading limits and other parameters configured by each bank. Bloomberg says the solution can be integrated with banks’ middle and back-office systems and that 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,” says Tod Van Name, Bloomberg’s global head of FX electronic trading. “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.”