Bloomberg has launched an electronic platform for secondary market trading in Philippine Government bonds. The system was developed in cooperation with 26 of the leading banks in fixed-income securities trading and money management in the Philippines.
Ultimately the new screen-based exchange will encompass over 50 banks and broker dealers trading in the secondary government securities market.
Bloomberg was commissioned to provide the system by the Bankers Association of the Philippines in March 2000. The new trading platform will fully integrate Bloomberg's fixed-income analytics, real-time and historical price data and news for Philippine securities with its global communications network.
Bloomberg says it will use the new system as a channel to offer applications such as a central display of benchmark prices, interpolated illiquid prices, best bid/offer and a real-time monitor of "done deals".