Indian government bonds (IGBs) can now be traded electronically through Bloomberg.
Tradeweb was the first firm to offer IGB e-trading, launching the service last June.
READ MORE: MarketAxess brings e-trading to Indian govies
Foreign portfolio investors are now able to place, order, execute and allocate IGBs through an electronic trading workflow, which is connected to Clearcorp’s Negotiated Dealing System-Order Matching. This improves operational efficiency and reduces risk, Bloomberg says.
Clients are also able to access IGB liquidity from international and domestic banks through the Bloomberg Terminal.
State Street Investment Management implemented the first trade of this kind on the platform.
In expanding its coverage of India, Bloomberg included India Fully Accessible Route bonds in its Emerging Market Local Currency Government Index last year.
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