Instimatch Global partners with Frontclear to revolutionise electronic repo trading in Africa

Switzerland, Baar, 16 February 2024 – Digital innovation is key to improving financial inclusion across Africa. Instimatch Global AG is therefore delighted to announce a strategic partnership with Frontclear – to jointly deliver an end-to-end global repo trading solution that will support developing countries in creating an effective money market and further integrating into the global economy, thereby increasing trade and investment opportunities.

Adrian Edelmann, CEO of Instimatch Global AG, said: “Our joint vision is to create an inclusive money market system in Africa, providing access to a significant depth of local liquidity and a range of global counterparties. Together we can offer a standardised and negotiable trading workflow for interbank transactions on Frontclear’s Tradeclear platform, whereby Frontclear can enhance liquidity on the platform via credit risk guarantees and principal trading capabilities.”

Philip Buyskes, CEO of Frontclear, commented: “Money markets are the most fundamental layer of financial markets, supporting maturity transformation and responsible lending practices of banks, deepening of government security markets, and allowing for effective transmission of monetary policy signals. We are delighted to partner with Instimatch Global to implement our common vision.”

Transactions on the Tradeclear platform are guaranteed by Frontclear, ensuring that money markets can be stable and inclusive. The Tradeclear platform, powered by Instimatch Global AG’s pioneering technology, brings several benefits to the market:

• Access: Connects African financial institutions to both domestic and cross-border interbank markets and in turn, facilitates global counterparties’ access to domestic parties.
• Liquidity and pricing: Improves price discovery and matching processes thereby reducing the bid-ask spreads and risk of market frictions.
• Market transparency: Provides information and data on the African repo market enhancing market surveillance and oversight and improving the compliance and reporting of market participants.
• Efficiency: Complements and (further) automates repo trading processes, enabling the integration and interoperability of the African repo market with other financial markets and instruments.

The new jointly developed platform is targeted for launch in Uganda in Q1 2024 and Zambia in Q3 2024 on the back of extensive technical assistance provided by Frontclear in recent years to remove market development barriers.

To arrange press interviews on this strategic partnership, reporters can contact:

Instimatch Global AG:

Adrian Edelmann, CEO: adrian.edelmann@instimatch.com

Frontclear:

Ingrid Hagen, Senior Vice President Strategic Projects: ihagen@frontclear.com

About Instimatch Global AG

Founded in 2017 and based in Switzerland, Instimatch Global AG offers a web-based cash management trading platform for institutions across industries and geographies, enabling them to directly engage with each other and digitally execute all their liquidity needs as well as allowing them to leverage their trading network. The platform covers various asset classes, including unsecured cash deposits, repos, money market funds, forex and digital promissory notes. For more information, please visit www.instimatch.com or contact info@instimatch.com.

About Frontclear

Frontclear is a development finance institution that aims to support stable and inclusive money markets in emerging and developing countries. Frontclear provides credit guarantees and technical assistance to facilitate access and liquidity in the interbank markets, especially for local financial institutions. Frontclear’s global technical assistance program works in partnership with central banks to develop the financial infrastructure, legal environment and the skills and capacity of the domestic market participants. Frontclear is funded by European development finance institutions and global development agencies. Frontclear is rated A- by Fitch and Baa3 by Moody’s and is furthermore counter-guaranteed by KfW, a AAA-rated German development Bank. For more information, please visit www.frontclear.com or contact ihagen@frontclear.com.

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