. he leads a team of trade professionals specialized in trade relationship management, risk mitigation strategies, logistic management, structured trade, new trade services and emerging payment channel instruments to provide integrated solutions to financial institutions and corporate clients. prior to his current role, asif was head of trade sales for europe, middle east and africa as well as for the firm ’ s global network trade business. he also worked at jpmorgan new york for 7 years and managed various trade teams. asif is a regular speaker of trade industry conferences and has written articles on trade & logistics management. he is also member of asian advisory council of bankers ’ association for finance and trade. 3. mr subin subaiah mr subin subaiah is a senior vice president of bank of america, heading their global treasury services business across the financial institutions client space in asia. prior to joining bank of america in june 2005, mr subaiah spent 6 years with deutsche bank, singapore where he held the position of managing director in charge of fi relationship management and had business line responsibilities for deutsche ’ s cash and trade business in south / south east asia and australia. mr subaiah spent his first twenty years in banking with bankers trust company holding a variety of senior positions in india, hong kong and singapore in their transaction banking and investment banking businesses, covering clients across asia. thank you.

the understanding of key market issues by some participants. a number of proposals will be made at this workshop to address the problems i have just highlighted. one of the main objectives of the proposals is to strengthen the participation of broker dealers in the securities markets. broker dealers can help to widen market demand for debt securities by engaging in the retail securities business, with individuals, non bank financial institutions and non financial companies. widening market demand and promoting secondary market trading should also enhance the liquidity of government securities. one of the possible measures to strengthen the participation of broker dealers in the debt markets is to allow them access to the central depository system for securities. we would like to strengthen the transparency of the securities markets, by ensuring that all potential market participants can access data on prices and yields on a daily basis. we will bis central bankers ’ speeches propose that data on the prices, yields and amounts of securities traded daily should be made available to the public. we are also intending to publish each day a pricing matrix for treasury bills and bonds, so that investors can readily ascertain the prevailing market yield on a debt security of any maturity. the workshop will also consider changes to the methodology for assigning bond coupons. currently the bond coupon is determined prior to the auction, with bids made on a price basis. we will discuss asking investors to bid on the basis of yields, with the coupon assigned after the results are determined, which is the normal practise in more developed markets. the advantage of such a change is that it will eliminate significant price discounts and premiums in the primary auctions, which occur when the yields demanded by the market differ from the pre - assigned bond coupon. this workshop is one of a number of ongoing initiatives to promote the deepening and diversification of financial markets, under the auspices of the five year financial markets development plan. in addition, there is an active work programme within the east african community to promote the regional integration of capital markets. the bank of uganda is spearheading the creation of regional intermediaries that will support the efficient trading of government securities within the integrated financial market framework in the east african community. in implementing all these reforms which will be discussed in this workshop, the bank of uganda is very pleased to acknowledge the technical support of the department of treasury of the government of the united states of america. to conclude, i wish to pledge bank of uganda ’ s continued support to reforms to deepen the capital markets and make them more