The RBZ is introducing a new measure to improve the efficiency or more specifically increase the trading of foreign exchange through legal means- an e-trading platform.
Eddie Cross, a member of the Monetary Policy Committee said the platform might be launched this coming week:
Next week, we hope to launch the new electronic trading platform for the interbank market and if we can attract enough foreign exchange into the market, it will help steady the rate and eventually, we hope it will strengthen the rate over time.
Eddie Cross
The platform is expected to offer the following functionality:
- charting packages
- news feeds
- account management functions
Additionally, the Monetary Policy Committee also agreed to launch a market tracker under reuters system in order to enhance transparency.
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