Bloomberg Adds Block Trade Allocation to Bond Connect

Bloomberg announced it will introduce bloc trade allocation and structured product trading support for offshore investors using its electronic trading platform to access China’s cross-border fixed income platform Bond Connect. The use of the Bloomberg Terminal allows institutional investors to be able to trade on behalf of multiple funds in one block with the pre- and post-trade allocations. The new function will streamline the workflow of large transactions and integration with existing order management systems, says Bloomberg. Bing Li, head of Greater China at Bloomberg, said that the firm has seen a significant increase in foreign activity in Chinese bonds since the beginning of the year, with the Bond Connect initiative allowing overseas funds to buy onshore bonds through Hong Kong. Bloomberg became the second approved trading platform to operate within Bond Connect, providing a trading interface for offshore investors accessing the cross-border bond trading and settlement scheme that links the Mainland China and Hong Kong markets.