DEVELOPMENT OF A POLICY, INSTITUTIONAL AND REGULATORY
FRAMEWORK FOR EXCHANGE TRADED FUNDS (ETFs) MARKET IN KENYA
TENDER NO. CMA / EOI - 001/ 2013 /2014
The Capital Markets Authority (CMA) was set up in 1989 through an Act of Parliament Cap.
485A Laws of Kenya. The CMA, which is a body corporate with perpetual succession and
a common seal, was constituted and inaugurated in 1990. The CMA is a statutory agency
charged with the prime responsibility of regulating the development of orderly, fair and efficient
capital markets in Kenya.
One of the key challenges that Kenya's capital markets have faced over the years has to do
with relatively low market liquidity. As one of the approaches aimed at improving market depth
and by extension liquidity, CMA is seeking to increase the scope of available capital markets
products in Kenya by facilitating the establishment of an Exchange Traded Funds market.

This would be through putting in place the policy, legal as well as trading and settlement
infrastructure relating to this financial instrument.
Pursuant to this objective, the Capital Markets Authority seeks to engage the services of a
Consultant to provide technical assistance in developing the policy and regulatory framework
as well as recommendations on market infrastructure requirements for ETFs.
Interested firms shall be required to provide information indicating that they have the
necessary qualifications, capability, experience, resources, tools and facilities to carry out the
Exercise. Such information shall include a detailed company profile, description and evidence
of experience in similar assignments carried out, and availability of qualified and experienced
key personnel for this assignment.
Completed Expression of Interest proposals shall be submitted in Four copies (one
original and three copies) in a plain sealed envelope, marked and addressed to:

Chief Executive
Capital Markets Authority
Embankment Plaza, Longonot Road, Upper hill
P.O. Box 74800-00200
Nairobi, Kenya.

These EOIs should be deposited in the Tender Box situated on 3rd Floor, Embankment Plaza,
Longonot Road, Upperhill, Nairobi not later than Wednesday, 31st July, 2013 at 11.00 a.m.
EOIs will be opened immediately thereafter in the presence of the tenderers' representatives
who choose to attend the opening at the 4th Floor Conference Room, Embankment Plaza,
Longonot Road, Upper hill, Nairobi.
"CMA Management is committed to enhancing integrity in its procurement processes".