Foreign exchange matching platform debuts in Sri Lanka
- CNL Reporter
- March 10, 2025
- Banking and Financial
- Foreign exchange matching platform debuts in Sri Lanka
- 0 Comments
New initiative to enhance price discovery, promote greater transparency and efficiency in domestic FX market
The Sri Lankan foreign exchange (FX) market has successfully implemented an FX matching platform, as per the initiative taken by the Central Bank of Sri Lanka (CBSL) to foster a deeper FX market.
This platform, which is accessible to all licenced commercial banks, National Savings Bank, and the CBSL, was introduced to enhance price discovery, and to promote greater transparency and efficiency in the domestic FX market. Accordingly, BMatch FX matching platform (BMatch) of Bloomberg was chosen by the domestic FX market for this purpose.
At present, for the domestic FX market, BMatch facilitates spot transactions in US Dollar against the Sri Lanka Rupee, enabling market participants to place anonymous orders within a central limit order book. It supports the entire trade lifecycle, including pre-trade price transparency, trading, and post-trade straight-through processing.
The real-time executable quotes provided by market participants on BMatch will improve price discovery, allowing participants to make informed decisions. In addition, the CBSL is provided with the oversight functionality through BMatch, to facilitate its regulatory responsibilities.
