As technology has become more accessible, the focus on electronic trading has become an increasingly important part of the fixed income market development landscape, especially when it comes to broadening and deepening the financial markets in Africa. How has Refinitiv used electronic trading to help develop the fixed income market development landscape in Africa?
- Our role is to deliver the most accurate and reliable depth of African fixed income related market data.
- Our Fixed Income (FI) Callouts platform provides market wide access to a fit for purpose platform that facilitates the negotiations and agreements of fixed income bond trading terms in Africa and addresses the immediate need to develop and grow secondary bond market trading.
- Our FI Callouts platform delivers key features required to satisfy market needs in an efficient, reliable and scalable manner.
Admittedly, a journey has to begin with the first step. Without accurate and reliable data, systems are rendered insignificant. We have spent the past two years focusing intensively on developing and deepening fixed income instrument and analytical data coverage across Africa.
So what is the role of Refinitiv (previously Thomson Reuters F&R) in the fixed income market?
Our role is to deliver the most accurate and reliable depth of African fixed income related market data. Transformation of the market structure is an iterative process and necessitates a solid foundation. The journey of achieving real price discovery and liquidity provision requires consistent and accurate data contributions from the key market participants to stimulate and create the market appetite.
Inclusive capacity building and knowledge sharing amongst market participants are vital factors to enable the upliftment of markets. We already support the Primary Issuance of local debt instruments, which is an essential part of Fixed Income market development. This is supported by our Auctions workflow tool, accessible via our Eikon and FXT platform.
Fixed Income 2.0
The next step is extending the market to include secondary market trading, which is critical to helping support effective liquidity, transparency and price discovery across bonds and bills. African bonds and bills are typically held to maturity by investors, due to an insufficient supply of Fixed Income assets available. Offering a Fixed Income focused technology platform within African markets will help facilitate an increase in fixed income transactions and price discovery between market participants.
Why our Fixed Income Callouts platform is considered one of the best in Africa?
Our Fixed Income Callouts platform solves this second step in the Fixed Income development journey by providing market wide access to a fit for purpose platform that facilitates the negotiations and agreements of fixed income bond trading terms in Africa and addresses the immediate need to develop and grow secondary bond market trading.
Offering the flexibility to support voice confirmation of transactions will help with market surveillance helping allow the regulator to view all market trades via a central blotter. This helps ensure compliance with regional reporting requirements and is only one of the many features Fixed Income Callouts brings to a market.
Supporting Central Banks, traders, regulators, middle office and back office teams across the African markets is fundamental to our purpose of Empowering Africa’s Success.
As the company that was the first in the market to provide reliable and accurate bond content and pricing, both Auctions and FI Callouts are available on Eikon via live feeds. Our FI Callouts platform delivers key features required to satisfy market needs in an efficient, reliable and scalable manner.