Bloomberg, the leading global provider of business and financial news and data, today announced that it has been chosen as the primary market auction system for the government's Shekel bonds, as Israel invites applications for Primary Dealers in its domestic bond market for the first time.
The Bloomberg Auction system is available on the Bloomberg Professional(R) service, the all-inclusive desktop solution with 250,000 users worldwide.
The Israeli Ministry Of Finance will join issuers of sovereign debt already benefiting from the automation, transparency and speed of the Bloomberg Auction System. These include government-appointed debt agencies in England, Belgium, Holland, Finland, Iceland, Indonesia, Portugal, South Africa, The Czech Republic and The Republic of Ireland. More details of the Bloomberg Auction System are available to Bloomberg users via AUCS < GO > on the Bloomberg terminal.
Bloomberg's Primary Market Auction system automates all elements of the auction process. Dealers enter their bids directly on their Bloomberg screens. The auction system provides allocation algorithms and allows results to be transmitted to dealers and secondary markets worldwide within seconds.
"Bloomberg is pleased that the Israeli Ministry of Finance has selected the Bloomberg Auction System," according to Russel Levi of Bloomberg. "The Bloomberg Auction System is available to Bloomberg users at no extra charge, as part of Bloomberg's ongoing commitment to add value to the all-inclusive Bloomberg Professional service."