Thomson Reuters, the world's leading source of intelligent information for businesses and professionals, today announced that the Bank of Ghana will use Thomson Reuters Trade Reporting solution to automate the process of tracking market volumes and activity.

The Bank of Ghana will utilize both Thomson Reuters Deal Tracker and Thomson Reuters Trade Notification services giving them greater automation and transparency across the entire trade lifecycle.

The progressively fragmented nature of trading coupled with greater regulatory oversight and scrutiny from investors means that operational efficiency is becoming ever more important.

Thomson Reuters Deal Tracker provides a suite of tools for monitoring and processing FX trades from the front to the back office, enabling the automatic review of conversational deals, confirmed tickets and post-trade notifications before, during and after trading.

Thomson Reuters Trade Notification is a neutral, independent platform that takes advantage of Thomson Reuters extensive post-trade network, currently servicing more than 500 institutions across 70 countries world-wide. The solution removes barriers to straight-through processing by connecting banks, brokers and ECNs seamlessly with their counterparties and allows firms to receive trade notifications electronically and return affirmations, rejections or modifications to the source.

“This agreement further highlights Thomson Reuters key focus on expanding its business into Central Banks across the Middle East and Africa region,” said Basil Moftah, managing director of Middle East, Africa, and Russia.

“It builds on the momentum of other recent successes in the region and illustrates how Thomson Reuters are leading the way in enabling central banks and governments to have greater supervision over market activity and be more informed as to when intervention is needed.