NSE Amends FIS Trading Rules
The Nairobi Securities Exchange (NSE) has amended its Fixed Income Securities (FIS) Trading Rules. This follows a formal approval from the regulator; the Capital Markets Authority (CMA).
The FIS Trading Rules cover how NSE Market Intermediaries access the Automated Trading System (ATS) of The Exchange. They also detail the obligations of NSE Market Intermediaries including their order management of trades in Fixed Income Securities executed on the same platform.
The amendments are in Section 5.2.2 (ii) and 5.2.3 of the Trading Rules and include the creation of a Restricted Board where restricted FIS offers shall trade and the trading restrictions on the Restricted Board.
The Restricted Board will be used to trade Fixed Income Securities arising from public offers targeting sophisticated investors who include; high net worth individuals, authorized schemes, collective investment schemes, banks and their subsidiaries, co-operative societies, pension or retirement funds a…
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