NBC launches online trading platform

The National Bank of Cambodia (NBC) has officially launched a new trading platform which allows financial institutions to trade the central bank’s financial instruments like negotiable certificates of deposits (NCDs), liquidity-providing collateralized operations (LCDOs), and currency. Called the National Bank of Cambodia Platform (NBCP), the online system was introduced to help cut down transaction costs, according to Central Bank Director-General Chea Serey. She said the NBCP will allow participants to find out online which entities want to conduct which transactions at which prices, to negotiate online in a confidential manner, and to execute the transactions on a real time basis. She added that the platform would help build trust in the fragmented interbank lending market that previously depended on manually processed trades with time-consuming paperwork. (Source: Phnom Penh Post)