The Ghana Fixed Income Market (GFIM Market), in collaboration with ACI Ghana and  Frontclear, formally launched the Frontclear Academy in Ghana on March 4, 2021.

The Frontclear Academy is a  global on-line training platform that offers interactive knowledge on fixed income markets for practitioners and regulators. Ghana is the second in Africa to gain access to this educational platform.  

The development of secondary bond markets has become a priority among regulators and market  participants, with many emerging markets establishing more conducive legal & regulatory frameworks. The Ghana Stock Exchange (GSE), through its GFIM Market, and in partnership with Bank of Ghana, and Ministry of Finance, have introduced new regulations in line with global best practice such as,  ISDA, GMRA and the Corporate Insolvency Act, 2020 (Act 1015). The GFIM Market is also making the  necessary investments in market infrastructure and the industry’s human capital.  

The Frontclear Academy aims to ensure that the knowledge of market participants and regulators keep  pace with global developments. It offers market practitioners like those in Ghana, the opportunity to  continually learn in a world which has shifted on-line. Frontclear has been providing on-site training  to market participants in Ghana since 2016, a year after the GFIM was established. With the conviction that training is a key component to financial market development, the Frontclear Academy ensures  continuity amidst COVID-19 related travel restrictions. 

The launch involved the distribution of 50 free licenses to the platform to market participants that include banks, brokerages, fund managers and regulators. Courses on the program include:  – Money Market Matters: Fundamentals of a financial system, Bond Accounting and Repos, Accounting for Derivatives, ISDA Masterclass, Repo Primer – understanding, managing and using repos and GMRA Primer – understanding and implementing GMRA.

Commenting on the partnership, Ms. Abena Amoah, the Deputy Managing Director of the Ghana Stock  Exchange said: “building up the knowledge base of our market operators is key to the development and growth of the market. GFIM will not renege on its efforts to develop the capacity of all our stakeholders. Our partnership with Frontclear to train the market participants has yielded many benefits to the market, including the 50 free licenses distributed today. The Frontclear Academy is another milestone in our efforts to educate the market to achieve efficiency and excellence. “ 

The President of ACI Ghana, Mr. Kofi Pianim commented: “ACI Ghana is excited to partner with GFIM  and Frontclear to build capacity of the domestic capital markets via the Frontclear Academic  Certification program;” 

“Ghana is the second African market to have access to the Frontclear Academy. We look forward to the market’s feedback in our continuous effort to support market development. The next country to gain access will be in Latin America and then Asia” Ingrid Hagen, Vice President Strategic Projects at  Frontclear also said.

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