GRETAI Securities Market, operator of the nation's biggest debt exchange, has started a new corporate bond (CB) pricing system to help develop the market for the securities.
The system will enable investors to better determine the market price of their corporate holdings, GRETAI said in a statement released at a press conference in Taipei yesterday.
"The new system can provide opportunities to hedge risks, leading to further development of the futures market and financial derivative products," said Crett Lin (林瑞雲), vice president at Mega Bills Finance Co (兆豐票券), a unit of Mega Financial Holding Co (兆豐金控).
Asian corporate bonds tend to be relatively illiquid compared with those in the US and Europe, which can make it difficult for investors to accurately determine the value of their holdings.
The new pricing system includes historical data for corporate bond yields stretching back 18 months, generated with the assistance of 20 financial institutions, including Citigroup Inc, HSBC Holdings PLC, Mega Financial and Chinatrust Financial Holding Co (
The information will be distributed over financial terminals operated by Bloomberg LP, which will also provide data and evaluation models for corporate bonds, the statement read.
"The move will help increase the motivation to perform bond transactions and help stimulate the secondary market," GRETAI president Wu Yui-chun (吳裕群) said at the briefing.
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