Ghana’s central bank to use Reuters’ tools to track trade volumes

The Bank of Ghana (BoG) will start using two trade reporting platforms provided by Thomson Reuters, a leading source of business information, to automate the process of tracking market volumes.

Announced November 14, 2012, Thomson Reuters, in a statement said “The Bank of Ghana will utilize both Thomson Reuters Deal Tracker and Thomson Reuters Trade Notification services giving them greater automation and transparency across the entire trade lifecycle.”

The Deal Tracker provides a suite of tools for monitoring and processing FX trades from the front to the back office, enabling the automatic review of conversational deals, confirmed tickets and post-trade notifications before, during and after trading.

While the Trade Notification is a neutral, independent platform that takes advantage of Thomson Reuters’s extensive post-trade network. It removes barriers to straight-through processing by connecting banks, brokers and ECNs seamlessly with their counterparties and allows firms to receive trade notifications electronically and return affirmations, rejections or modifications to the source.

“This agreement further highlights Thomson Reuters’s key focus on expanding its business into Central Banks across the Middle East and Africa region,” said Thomson Reuters’ Managing director of Middle East, Africa, and Russia, Basil Moftah.

By Ekow Quandzie