Bank of Ghana backs 12 financial institutions to deal in bonds and treasury bills 

The Bank of Ghana has completed a review of the Primary Dealer (PD) system and has granted approval to 12 dealers. 

Out of the 12 authorised institutions, eight have been selected as Bond Market Specialists for the issuance of government bonds through the book-building system. 

The review was conducted in collaboration with the Ministry of Finance, the bank said in a statement. 

The PDs are authorised institutions that have the exclusive right to participate in the wholesale auctions of treasury bills. They are expected to take up, market and distribute Treasury Bills. 

The revised list of PDs includes ABSA Ghana Limited, ADB PLC, ARB Apex Bank Black Star Brokerage Limited, CalBank PLC, Consolidated Bank Ghana Limited and Databank Brokerage Limited. 

The rest are, Ecobank Ghana PLC, Fidelity Bank Ghana, GCB Bank, Obsidian Achernar Limited and Stanbic Bank Ghana 

The eight selected to operate as Bond Market Specialists are ABSA Ghana Limited, Black Star Brokerage Limited, CalBank PLC, Databank Brokerage Limited, Ecobank Ghana PLC, Fidelity Bank Ghana, GCB Bank and Stanbic Bank Ghana. 

Bond Market Specialists (BMS) are PDs that have the exclusive right to participate in primary issuance, by auction or otherwise, of all GoG Treasury bills, notes and bonds. 

The BMS shall be subject to all obligations, privileges and requirements of PDs and their specific requirements. 

These requirements include having underwriting, distribution and marketing capabilities both locally and internationally; and evidence of secondary market activities by the BMS in support of the fixed income market and statistics of BMS trading volumes over a period. 

Source: GNA 

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