Frontclear is the development finance company dedicated to money markets. We provide: 1) credit guarantees to cover counterparty credit risk in repo, derivative and securities lending transactions, and 2) technical assistance in partnership with regulators and industry bodies, to build the required skills, regulatory frameworks and market infrastructure.
Paul Muthaura, Chief Executive, Capital Markets Authority
“The Authority and the wider capital markets and banking industry in Kenya have benefitted immensely from working closely with Frontclear since 2016 given their pragmatic and solutions focused approach. We have managed to develop credible, world class, market based solutions relating to full operationalisation of GMRA and ISDA standards in Kenya which are in their final stages of statutory and regulatory implementation.”
Richard Comotto, Senior Visiting Fellow, ICMA Centre at the University of Reading in England
“SMEs generally deal with small banks, which are frozen out of the Kenyan interbank market. Most small banks are worried about liquidity, and therefore have huge excess prudential balances at the Central Bank, which is a very inefficient use of liquidity. Frontclear’s focus is highly appropriate to freeing this up.”
Koko Bola Onadele, Managing Director/Chief Executive Officer, FMDQ Group
“In our stride to position our markets on the path of increased liquidity and global competitiveness, the FMDQ-Frontclear guarantee fund initiative is a landmark achievement positioned to engender market integrity, which will bolster liquidity and financial system stability in the Nigerian economy.”
Robin Sherbourne, Head of ODI Fellowship Scheme, Overseas Development Institute
“The ODI Fellowship Scheme provides capacity to developing country governments in economics and statistics where gaps in local capacity exists. The target beneficiaries for this partnership with Frontclear can employ high caliber economists to improve their ability to strengthen the understanding and capacity of money market regulators.”
Allan Malvar, Managing Director, Head Corporate Communications & Membership, ICMA
“As a provider of standard documentation and education for the international repo market, ICMA greatly values its partnership with Frontclear in encouraging the use of repo in frontier markets. Our experience with Frontclear in supplying technical expertise for the repo product in markets in Africa and Central/Latin America has shown the potential of their approach for fast-tracking market development and we hopeto extend our joint endeavour to other developing regions.”
Jérôme Sabah, Global Head of Rates, Credit and Forex Sales for Financial Institutions, Societe Generale
“The Societe Generale is delighted to have concluded this transaction with Frontclear allowing Development Bank of Mongolia to hedge interest rate and currency risks related to its Samurai bond. It illustrates the strength of the collaboration between our two institutions, Societe Generale and Frontclear, which share the common objective to participate to the development of capital markets in emerging countries.”
George Asante, Head of Global Markets Africa (ex SA), ABSA
“Our partnership with Frontclear and this investment in the FTAP Partnership Facility is a further demonstration of Barclays Africa Group’s commitment to expanding and deepening financial markets across Africa.”
Daniel Hanna, Global Head of Public Sector and Development Organisations, Standard Chartered Bank
“As a leading international bank in Africa, we remain committed to providing financial structures which not only provide bespoke solutions, but also bring the right partners together to deliver sustainable benefits. We look forward to delivering further value to other clients in partnership with Frontclear.”
Reggie Mlangeni, Regional Head East Africa Client Solutions, Standard Bank
“With this transaction, Standard Bank, Commercial Bank of Africa and Frontclear worked together as partners to develop Kenya’s domestic financial markets. The market development initiative and focus of Frontclear assisted with lobbying the various regulating bodies in Kenya as a collective. We were able to transact under global industry-standard documentation. We see this type of transaction as key to developing deep and liquid financial markets in Kenya and across Africa as a whole.”
Herbert Wigwe, Group Managing Director, Access Bank PLC
“We are pleased to partner with Standard Chartered and Frontclear in this innovative solution as it provides us an opportunity to continue to provide FX solutions to our clients within the context of the current operating environment. We are also pleased to be counterparty to Frontclear’s first transaction in Nigeria and we look forward to expanding our partnership with other Africa-focused Developmental Financial Institutions.”
Pauline Engelberts, Global Chief Operations Officer, ABN AMRO Clearing Bank
“ABN AMRO Clearing wants to lead the way to safe and transparent markets, as the need for dependable, stable, accessible markets is greater than ever. We are taking our societal responsibility to the next level by teaming up with Frontclear as a complementary partner. We commit to making our staff available to support initiatives that make local interbank markets in emerging and developing countries more transparent and efficient."
Arnold Bagubwagye, Deputy Director Financial Markets, Bank of Uganda
"The development of the money markets is one of the priorities to building liquidity in Uganda's financial markets. Bank of Uganda's partnership with Frontclear in building a well-functioning money market shows clear commitment by the Bank to deepen the Financial Markets as part of the efforts to position Uganda as a desirable destination for investment."
latest from frontclear
Frontclear publishes its Impact Report 201929 May 2020
AMSTERDAM, 29 May 2020 – On 29 May Frontclear has published its Impact Report 2019. This year’s report reflects achievements, results and learning gathered through applying our Theory of Change
Frontclear closes a first NDF with Unibank and TCX in Azerbaijan30 January 2020
January 2020. Frontclear arranged and structured a USD single-digit millions AZN/USD non-deliverable forward (NDF) transaction with Unibank Commercial Bank OJSC (Unibank). This transaction has made it possible for Unibank to effectively convert their USD liabilities into AZN liabilities, allowing for Unibank to provide additional opportunities for local currency financing to its clients. The NDF transaction is documented under an International Swap and Derivatives Association (ISDA) Agreement, whereby Frontclear customized the confirmation to overcome legal issues in the Azerbaijani market.
FSD Africa Investments has announced a $3.2 million investment into MFS Africa and Frontclear meant to strengthen African financial markets.21 January 2020
MFS Africa secured a USD$1.2 million follow-on investment from FSD Africa Investments to support implementation of a new partnership with Visa. Meanwhile, Frontclear secured a USD$2 million investment from FSD Africa Investments to improve efficiencies and catalyse investment in the private sector
frontclear is seeking to scale and partner
Having demonstrated its development impact rationale and financial viability since 2015, Frontclear is seeking to significantly scale up and deepen its partnerships with key development institutions.
Come join Frontclear by answering the call to local money markets development.