BANK OF UGANDA TO ROLL OUT ONLINE BIDDING

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 BANK of Uganda (BOU) will rollout the online bidding and trading of government securities next year. Stephen Kaboyo said on Wednesday that the upgrade of the Central Depository System (CDS) had been completed. He said phase II that involves deploying the system to market players, was being rolled out.

“The system will extend to all market players. We will initially start with primary dealers and then to all commercial banks.  “The system will allow electronic automation and bidding processes and online trading,” said Kaboyo.  He was speaking during the central bank’s monthly press briefing in Kampala.

Kaboyo said the system should start in nine months.

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