dealers in the debt market are on going. it is our expectation that this will significantly increase the retail end of the market. ( v ) plans are underway to introduce a bond calendar. this will improve predictability and regularize debt issuance. the successful implementation of the above reforms will largely depend on your continued cooperation. turning to today ’ s event, i wish to acknowledge the role this year ’ s award winner has played especially in providing more consistent coverage and pricing in the primary auctions and repo operations. i applaud your efforts and i call upon all the primary dealers to work harder this year to fulfill their market obligations. bis central bankers ’ speeches ladies and gentlemen, it is with great pleasure that i announce that stanbic bank uganda ltd is the primary dealer of the year 2011. i now invite the managing director to receive the award. congratulations and i thank you. bank of uganda kampala bis central bankers ’ speeches

securities. additionally, we believe the matrix will focus investor interest on the yield curve, while at the same time stimulate secondary and repo market trading. bis central bankers ’ speeches ( iii ) the enhanced central securities depository system is expected to go live by june this year, this will provide among other functionalities, e - bidding in primary auctions, automated repo auctions and online secondary market trading. ( iv ) the debt reforms that will lead to the introduction of non bank broker / dealers in the debt market are on going. it is our expectation that this will significantly increase the retail end of the market. ( v ) plans are underway to introduce a bond calendar. this will improve predictability and regularize debt issuance. the successful implementation of the above reforms will largely depend on your continued cooperation. turning to today ’ s event, i wish to acknowledge the role this year ’ s award winner has played especially in providing more consistent coverage and pricing in the primary auctions and repo operations. i applaud your efforts and i call upon all the primary dealers to work harder this year to fulfill their market obligations. ladies and gentlemen, it is with great pleasure that i announce that stanbic bank uganda ltd is the primary dealer of the year 2011. i now invite the managing director to receive the award. congratulations and i thank you. bank of uganda kampala and competitive. financial markets are crucial to any country ’ s financial sector development. at this stage allow me to mention a number of on going initiatives that are at advanced stages of implementation. ( i ) bou is in the process of upgrading and customizing the reuters system to enable banks report money market and forex transactions in real time. it is expected that this initiative will enhance transparency and minimize price distortions in the market. ( ii ) bou is currently revamping its website to provide additional market information by the development of a yield curve matrix for t - bonds and t - bills which will provide a daily pricing mechanism for all outstanding government securities. additionally, we believe the matrix will focus investor interest on the yield curve, while at the same time stimulate secondary and repo market trading. ( iii ) the enhanced central securities depository system is expected to go live by june this year, this will provide among other functionalities, e - bidding in primary auctions, automated repo auctions and online secondary market trading. ( iv ) the debt reforms that will lead to the introduction of non bank broker /