Cash settlement shifts to central bank platform in Kenya
Responsibilities pass from four designated banks to central bank
The cash settlement for securities transactions conducted on the Nairobi Securities Exchange (NSE) is now taking place on the Central Bank of Kenya's in-house system.
This extends to transactions involving either equities or corporate bonds, and replaces a system where cash settlement was effected through four commercial banks appointed by the Central Depository and Settlement Corporation (CDSC).
Now, it will take place through the central bank's real-time gross settlement (RTGS) system. The
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