Part II
Please state your contact details:
Country: SWAZILAND
Full name and surname:BERNARD MASOTJA VILAKATI
Title/Position/Department: GM FINANCE & FINANCIAL MARKETS
Agency/Institution: CENTRAL BANK OF SWAZILAND
Phone: 00268 2408 2000 OR 00268 2404 1829
Fax: 00268 2404 8530
Email:
1. Most central banks have indicated that they have access to/use Reuters and Bloomberg. However, in many cases, these systems are not being used for trading purposes or conducting the central bank auctions and many of the central banks operations are being conducted manually. Results of auctions are also not posted to these platforms but instead are made available only on the central bank website.
Please indicate whether you have these systems in place and whether the operations of the Bank (whether in money market, bonds or foreign exchange) are being conducted manually or electronically? If electronically, which systems are used?
Semi – Electronical – Reuters fully utilized for both trading and uploading auction results.
2.Please list the RICs or Bloomberg codes of the pages where the results of auctions are posted.
Reuters – SWAT for auction results, SWAZ for exchange rates – also acts as the bank’s dealing code
3. If you have Reuters/Bloomberg in place and are conducting your operations manually, please indicate the reason for this and why you do not utilize Reuters/Bloomberg for trading/auctions.
We utilize the two systems for trading purposes.
We don’t utilize Bloomberg for auction results but we do use Reuters.
4. Has there been training provided on the utilization of these systems and is the Bank aware of the various products that Reuters/Bloomberg offer (eg. Reuters dealing?
There has been training on the Trading side but not on the Auctions.
5. Does Reuters/Bloomberg have an office in your country?
No. But they both have regional offices in Johannesburg, which is closer to us.
6. Do all market participants have these systems in place and do they utilize it for trading purposes?
Only the Central Bank of Swaziland has Bloomberg and Reuters Dealing. The other participants only have Reuters 3000Xtra for news and quotes.
7. If your central bank does not use Reuters/Bloomberg for trading/auction purposes, what does the Bank use these systems for?
We use the systems partly for trading but mainly for research and market analyses. We use Bloomberg for Portfolio Management and Risk Analysis.
8. Does your central bank have any plans in place to start conducting auctions or trading electronically? If so, how much progress has there been and which systems does your Bank intend acquiring?
Plans are in progress and we will require technical assistance from Bloomberg and Reuters.
9. What type of information & research reports does your Financial Markets Department compile and feed through to the Executive/Management of the Bank?
Markets and Trend Analysis.
Thank you for your time!