On 11 December the Hong Kong Monetary Authority (HKMA) launched the electronic trading platform (ETP) for Exchange Fund Bills and Notes (EFBNs), which will enhance the price transparency among the market players and streamline the trading process.

With the launch of the ETP, market players can identify their trade counterparties and conclude deals more efficiently. The ETP is designed to be flexible enough to allow it to be set up according to specific requirements of individual market players.

The launch of the ETP is one of the recommendations arising from the Review of Debt Market Development completed by the HKMA in late 2006. The ETP provides the necessary infrastructure to support electronic trading of other bonds in addition to EFBNs and can be extended to cover other financial instruments available in the market. Besides market players in Hong Kong, overseas market players are also encouraged to use this platform when trading bonds and other financial instruments issued in Hong Kong.

The ETP is developed and operated by Bloomberg L.P. with advice on functional design and testing provided by a User Group established by the Treasury Markets Association. (HKMA)

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