Just as Asia's governments talk about the creation of a regional bond market, the demise of Asian local currency bond trading portal, Bonds in Asia provides a cautionary tale.
KPMG has been appointed as liquidator after attempts to sell the business proved abortive. This signals the end for a portal that was backed by shareholdings from some of Asia's biggest banks, including Citigroup, Deutsche and HSBC.
The company stopped trading at the end of July and was actively seeking a buyer to rescue it, among what had clearly become a wrangle between many of its mostly bank shareholders. The six main shareholders were BNP Paribas, Citigroup, CSFB, Deutsche, HSBC...
