2007'02.04.Sun
Bloomberg Trading Platform for Sri Lanka Bonds Active

July 24, 2006

NEW YORK, July 24 /Xinhua-PRNewswire/ -- Bloomberg, the global data, analytics and news provider, announced that the Bloomberg E-Bond platform for Sri Lanka Government Bonds is active on the BLOOMBERG PROFESSIONAL(R) service. With Bloomberg E-Bond, Sri Lanka Primary Dealers now benefit from a flexible, commission-free dealing, trade capture and reporting mechanism, while seamlessly offering global investors and market oversight entities a real-time view of price quotations and market activity for Sri Lanka Government Securities. Bloomberg E-Bond for Sri Lanka Government Securities is available to qualified users of the BLOOMBERG PROFESSIONAL(R) service via the functions LPBT < GO > and LPSM < GO >. The 12 participating Sri Lanka Primary Dealer firms on Bloomberg E-Bond include Bank of Ceylon, Capital Alliance Limited, Ceylinco Shriram Securities Limited, Commercial Bank of Ceylon Limited, Employee Provident Fund, First Capital Treasuries Limited, HNB Securities Limited, NSB Fund Management Company, National Wealth Corporation Limited, People's Bank, Sampath Bank and Seylan Bank Asset Management Limited. Pubudu Champike of People's Bank commented, "With Bloomberg E-Bond, in addition to the ability to enter my own orders, I can also ask for quotes from other dealers. The best bids/offers in the market are displayed prominently as well as the market depth. This price transparency and immediate trade reporting greatly enhances the efficiency of the Sri Lanka Government Securities." "The price discovery mechanism will help improve liquidity in the secondary market," said Vasantha Kumar, Chairman of the Association of Primary Dealers ("APD"). "By using a world class platform with world class technology, Bloomberg E-Bond immediately puts Sri Lanka in the forefront of electronic bond trading, and the fact that Bloomberg E-bond does not charge commission for trades makes it all the more attractive." The APD will consider any secondary player's application to join the E-Bond favorably in a bid to improve market efficiency. "Ultimately, what is good for everyone can only be great for the market," said Ajith Fernando, CEO of Capital Alliance Limited. About Bloomberg E-Bond Bloomberg E-Bond, available to qualified users of the BLOOMBERG PROFESSIONAL(R) service via the main menu function EB < GO >, is a global electronic trading system for bonds and treasury bills. Bloomberg E-Bond offers a unique multi-dealer Request For Quote ("RFQ") and anonymous quotation bulletin board, along with Straight-Through-Processing ("STP") features and real-time market activity displays. The Bloomberg E-Bond platform offers trading in bonds and treasury bills without transaction fees and will play a key role in fostering price transparency and liquidity in financial markets in Asia. With Bloomberg E-Bond's RFQ module, market-makers are able to request for market quotes from multiple counterparties and are able to effectively handle multiple transactions at any given time in an active market. Another module of Bloomberg E-Bond allows dealers to send orders in response to anonymous quotations. This module can be used separately from the RFQ module and contains an individual counterparty credit database set by each dealer which reveals the identities of the counterparties to a proposed trade. Bloomberg E-Bond is now being implemented across Asia, including Indonesia with 25 participating firms, Singapore with 11 firms, the Philippines with 24 firms, and Sri Lanka with 12 firms. In addition to a secondary market trading platform, Bloomberg also offers its Bloomberg Auction System to qualified participants, allowing government debt issuers to conduct their primary market auctions via the same platform. Consolidating primary and secondary market trading mechanisms can reduce the costs borne by dealers for participation and integration for Straight-Through Processing ("STP") purposes. With Bloomberg's widely distributed technology, including the use by many Primary Dealers of the Bloomberg position-keeping and risk-management system (TOMS), Bloomberg E-Bond offers STP with no transaction fees and minimal implementation and integration costs for banks. As Bloomberg E-Bond is adopted by more countries that seek to develop more cross-border flow, the efficiencies of the platform should continue to grow in value. 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 financial and market data, pricing, trading, news and communications tools in a single, integrated package to corporations, news organizations, financial and legal professionals and individuals around the world. Bloomberg's media services include the global BLOOMBERG NEWS(R) service with more than 2,000 professionals in 126 bureaus worldwide; the BLOOMBERG TELEVISION(R) 24-hour business and financial network produced and distributed worldwide on ten separate channels in seven languages; and BLOOMBERG RADIO(SM) services which provide up-to-the-minute news on XM, Sirius and WorldSpace satellite radio around the world and on WBBR 1130AM in New York. In addition, Bloomberg publishes Bloomberg Markets(R) magazine and BLOOMBERG PRESS(R) books for investment professionals. For more information please visit http://www.bloomberg.com . For more information, please contact: Judith Czelusniak Bloomberg LP Tel: +1-212-617-4273 Email: jczelusniak@bloomberg.net Victoria Moore Bloomberg LP Tel: +1-212-617-7814 Email: vmoore2@bloomberg.net SOURCE Bloomberg
PR
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