Bloomberg, a leading global provider of business and financial news and data, has been chosen as the primary market auction system for the government's shekel bonds. The State of Israel will be inviting applications for primary dealers in its domestic bond market for the first time.
The Bloomberg auction system is available on the Bloomberg Professional service, an all-inclusive desktop solution with 250,000 users worldwide.
The Israeli Ministry Of Finance will join other issuers of sovereign debt using the Bloomberg auction system including government-appointed debt agencies in the UK, Belgium, Holland, Finland, Iceland, Indonesia, Portugal, South Africa, The Czech Republic and The Republic of Ireland.
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.
The Bloomberg auction system is available to Bloomberg users at no extra charge. More details are available to Bloomberg users via AUCS < GO > on the Bloomberg terminal.
Published by Globes [online], Israel business news - www.globes.co.il - on July 13, 2005