Rwanda OTC market business starts

Rwanda Over-The-Counter (OTC) market Thursday made its first trading operations of two bonds—one corporate and another from government.  

Rwanda Over-The-Counter (OTC) market Thursday made its first trading operations of two bonds—one corporate and another from government.  

During the trading, Frw180.1 million in seven transactions was registered.

The two-year government Treasury bond and the ten-year Rwanda Commercial Bank (BCR) corporate bond were also launched.

The government Treasury bond maturing in 2010, has interest of 8 per cent per annum.
During the Thursday trading, Frw30.1 million was collected in four deals at prices between Frw102.50 and Frw102.75 from the government bonds.

While the ten-year BCR bond that will mature in 2017 with periodic interest of 9 per cent per annum traded at Frw100.25 in three deals, attracted Frw150 million.

The OTC secondary trading shall be conducted through a dual process, meaning members will trade on the OTC market where a member will be allowed to buy or sell directly to clients in their locations or offices.

Equally, the face-to-face or telephone transaction will be conducted during working days.
The open outcry business will be conducted at the Capital Markets Advisory Council (CMAC) trading floor at Ecobank.

Robert Mathu, executive director of CMAC said that during the designated trading floor session, members must report all their transactions from closure of the previous trading session.

He said disclosure of this information will be done before the beginning of the next trading session.

Ends

 

Have Your SayLeave a comment