The Monetary Authority of Singapore has chosen Bloomberg to provide the inter-dealer trading platform for the Singapore government bond.
All Singapore primary bond dealers will use the Bloomberg platform to transact bonds electronically, beginning in 2005.
The system, which will provide functionality such as automated request for quotes and anonymous electronic trading, is entirely integrated into the Bloomberg terminal and the Bloomberg Trade Order Management System, offering straight-through processing for bond contracts.
The average daily trading volume in Singapore government bonds is S$2.6 billion.
Guy Mock of Bloomberg says: "This is the latest step forward for Bloomberg's comprehensive service of integrated trading, market data, analytics, prices and news."
Separately, the vendor has signalled the next step in its currency dealing collaboration with EBS, announcing plans for the full integration of EBS Trader with the Bloomberg terminal. The idea is to create an instant trading community of global counterparties for conversational direct dealing, with approximately 200,000 potential participants from both the buy-side and sell-side.
Under the agreement, users of EBS Trader on Bloomberg will be able to access EBS data, Bloomberg data, news and analytics, and instant messaging functions on a single screen.
A selected first release of the new enhanced product will begin in early December and, on completion, all existing EBS Trader on Bloomberg customers will be contacted and offered the new functionality during the first quarter of 2005.