2011-10-10-news

2011-10-10

CMA has singed a contract for the provision of the Government Securities and Forex Trading, Depository and Money Market Systems to the National Bank of Kyrgyz Republic.

Stockholm, October 10th, 2011. CMA has announced today that it has successfully negotiated a contract with the National Bank of Kyrgyz Republic (NBKR) for the provision of the Government Securities and Forex Trading, Depository and Money Market Systems.

The main objective of the NBKR is to support its national currency and provide stability and security to the banking and payment systems of the republic. One of the underlying principles for the stable operations of a National Bank is an information system, which would provide reliable, complex yet standardized information that covers a spectrum of financial activities. At the same time, due to its significant flexibility, this system should not hinder the functioning and improvement of the existing business processes.

Therefore, NBKR, had set an objective to implement a new system for the Government Securities and Forex Trading, Depository and Money Market. This project includes procurement of the trading platforms and a depository system together with its integration with the payment infrastructure that as a result, will facilitate introduction of the DvP (Delivery-versus-Payment) principles in order to reduce settlement risks.

This modernization of the payment system infrastructure plays a vital role in improving the credentials and trust of the internal infrastructure, together with the motivation of participant banks and gives a boost for the expansion of its operations in the future.

In order to meet the aforementioned objectives, CMA has proposed its DEPO/X solution for Central Securities Depository with various plug-in modules that cover Forex Trading, Money Market etc.