Bloomberg Bond Auction System Selected by Australian Government

Bloomberg Bond Auction System Selected by Australian Government

May 31, 2006

    NEW YORK, May 31 /Xinhua-PRNewswire/ -- Bloomberg, the
leading global provider of data, analytics and news to the
financial community, today announced that the Australian
Office of Financial Management ("AOFM") has
selected the Bloomberg Auction System for the conduct of
Australian Government Bond tenders later this year. 

    Following an open tender for procurement of a new
electronic system for the collection and transmission of
tender bids for the issue of Commonwealth Government
Securities ("CGS"), the AOFM selected the
Bloomberg Auction System. Tenders for the issue of CGS,
such as Treasury Bonds and Treasury Notes, are currently
conducted on behalf of the AOFM by the Reserve Bank of
Australia. The Bloomberg Auction System for CGS is expected
to be in place in late 2006. 

    The Bloomberg Auction System is integrated into the
BLOOMBERG 
PROFESSIONAL(R) service. The Bloomberg Auction System
allows the issuer to use the BLOOMBERG PROFESSIONAL service
to perform their auction tenders with selected dealers, who
will submit their bids and obtain tender results from the
issuer via the BLOOMBERG PROFESSIONAL service. This is the
second Australian issuer to decide to conduct auctions
using the Bloomberg Auction System. NSWTC, Australia's
largest government agency issuer, signed on to use the
Bloomberg Auction System during 2003. A complete list of
issuers using the Bloomberg Auction System may be found on
the BLOOMBERG PROFESSIONAL service via the function AUCS
< GO >.

    "The Bloomberg Auction System was selected over
the existing mechanism due to its accessibility by dealers,
improved features for risk, redundancy, compliance and audit
purposes, improvements in issuing terms (transparency,
distribution & access) and faster calculation and
publication of tender results & allocations," said
Gerard Francis of Bloomberg. "The selection of the
Bloomberg Auction System by the AOFM reflects Bloomberg's
continuing commitment to the development and support of the
financial markets in Australia and across the Asia Pacific
region."

    About Bloomberg

    Bloomberg is the leading global provider of data, news
and analytics. The BLOOMBERG PROFESSIONAL(R) service and
Bloomberg's media services provide real-time and archived
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    For more information, please contact:

     Judith Czelusniak
     Bloomberg LP
     Tel:   [phone]
     Email: [e-mail]

SOURCE  Bloomberg