The electronic bond trading platform will allow traders to view live bids and offers on government bonds, treasury bills and corporate bonds from multiple dealers on the onscreen, as well as transact electronically with the dealers. The Bloomberg Bondtrader network includes Chase, JP Morgan, Morgan Stanley, Paine Webber and Zions Bank Capital Markets.
"As a participant in global fixed income markets, we are happy to see that Bloomberg is creating an electronic platform which will provide more transparency, price discovery, liquidity and trading opportunities in the Asian markets," says Quah Wee Ghee, director of bonds at GIC, (Government of Singapore Investment Corporation), which manages the foreign reserves of Singapore.
Applications such as a single display of benchmark prices, interpolated illiquid prices, ticket writing, best bid/offer and real-time monitor of "done deals", and account breakdowns are offered by BETS. No fees or commissions will be charged for trading. Last year, more than $16 trillion in secondary and new issues trading went through the Bloomberg system.
Fixed income trading on government Philippine securities on BETS began in July this year. The platform, which was mandated by the Bankers Association of the Philippines, was launched with 26 banks on board.