BEIJING, Sept. 2 (Xinhua) -- Bloomberg and China's National Interbank Funding Center (NIFC) announced Tuesday the rollout of request-for-quote (RFQ) service on Bloomberg terminals for international investors to directly trade bonds on China interbank bond market (CIBM), reported Xinhua Finance, a financial information platform of Xinhua News Agency.
Bloomberg connects facilities on its terminal products under the CIBM direct access scheme (CIBM-Direct), a direct route for international investors to access CIBM, with transaction system of NIFC for launching the electronic service.
Via the RFQ service, foreign investors can send their requests for quote with transaction volume included via the Bloomberg terminals to market makers in China. After these market markers reply available prices through NIFC's trading system, foreign investors can confirm transactions after receiving available transaction prices sent to them through linking facilities between Bloomberg terminals and NIFC.
Currently, the CIBM-Direct RFQ service covers all tradable bond products on China's interbank bond market.
Amid the relatively large uncertainty and volatility on global financial market, foreign investors' investment in RMB-denominated bonds still rushed to new highs and under such circumstances, the RFQ service launched by NIFC and Bloomberg has provided an electronic transaction choice for foreign investors under the CIBM-Direct access scheme, said Zhang Yi, president with NIFC, adding that more conveniences and higher efficiency for various participants are expectable.
Li Bing, head of Asia-Pacific at Bloomberg noted that China's bond market offers continuously opportunities for global investors to diversify their asset portfolios and obtain high returns and launching the RFQ service will help improve the efficiency of transaction implementation and settlement process.
NIFC is a sub-institution directly affiliated to Chinese central bank, the People's Bank of China and provides a series of services covering issuance, trade, post-trade processing, information, benchmark and training for interbank foreign exchange market, money market and bond market via dedicated line and the Internet with advanced electronic information technologies. (Edited by Duan Jing with Xinhua Silk Road, duanjing@xinhua.org)
A single purchase
