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Minfin of Ukraine and NBU adopt Bloomberg bond auction system

September 27, 2019 | Cbonds

The Ministry of Finance of Ukraine, in conjunction with the National Bank of Ukraine, have decided to offer government bond auctions via Bloomberg's Auction System (BAS). This will facilitate the participation of local and international banks operating in the primary market for Ukrainian government bonds.

“Macroeconomic stabilisation and the continuous efforts to reform the way government bonds market work in Ukraine, have helped to attract record-high inflows from foreign investors this year. The collaboration with Bloomberg marks the next stage in the implementation of best practices in the development of the Ukrainian government bond markets. Improved transparency and investor awareness should have a positive impact on the expansion of the investor base, and increase the share of national currency in the state debt” – said Yuriy Butsa, Government Commissioner for Public Debt Management.

"We are delighted that the Ministry of Finance of Ukraine has chosen to partner with Bloomberg to manage auctions more efficiently,” said Nicholas Bean, Bloomberg’s Global Head of Trading Venues. “Bloomberg's solution provides an optimal, cost-effective and secure way to manage operations for primary markets for issuers who would otherwise have to conduct a manual process, or have to build and implement their own solution.”

“This year we see a steady positive trend for our economy - the growth of foreign investors' demand for hryvnia assets. The transfer of DGB's primary placements to international trading systems, such as Bloomberg, is the next step of the National Bank and the Ministry of Finance in order to increase transparency and liquidity of the government borrowing market, simplify access to it and dedolarize public debt. In the future we will also strive for the development of secondary DGB's market on international platforms”, - said Oleg Churiy, Deputy Governor of the National Bank of Ukraine.

Bloomberg's Auction System is used by government agencies, central banks and financial institutions to perform their auction tenders electronically, and by market participants to track these auctions and enter bids. The system provides a safe and secure environment to issue debt and buy back debt, and perform other open market operations, all from a single integrated solution.

It is fully integrated with the data, news, analytics and communications tools available on the Terminal. Bloomberg’s auction system is used in more than 30 countries globally.

Company: Ukraine

Full company nameUkraine
Country of riskUkraine

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