Bloomberg has completed its first fully automated Japanese Government Bond (JGB) Market-on-Close transaction following the launch of a new trading workflow. Built around BB3P (Hikene Trading), the designated Market-on-Close reference rate for JGBs, the workflow streamlines execution, reduces tracking error, and delivers greater certainty by executing trades at a predetermined market close.
Available as part of Bloomberg Electronic Markets, the workflow combines the Bid/Offer List Trading functionality with Rule Builder, Bloomberg’s trade automation tool, enabling clients to define execution criteria and automate order routing based on predefined conditions within an integrated order and execution management workflow, through TSOX.
“The ability to combine Market-on-Close execution with rule-based automation is a significant step forward for the JGB markets. By accelerating time to market and enabling more systematic execution at the BB3P market reference, this workflow will help minimize transaction costs, reduce manual intervention, and deliver more consistent, optimized outcomes for investors, particularly during high-volume periods. It is an exciting development for one of the highest volume bond markets in Asia, and we were pleased to collaborate with Bloomberg on introducing the protocol.”
-Yudhveer Chaudhry, Head of Emerging Markets, FX, Commodities & Digital Assets at BlackRock
“We continue to enhance our global Market-on-Close capabilities, bringing greater automation and efficiency to Fixed Income trading for our global clients. The powerful combination of Bloomberg Electronic Markets capabilities enables clients to more efficiently negotiate pricing while reducing operational complexity in a critical market.”
-Norman Tweeboom, Japan Enterprise Sales Head at Bloomberg
The JGB workflow expands Bloomberg’s Market on-Close capabilities across global Fixed Income and supports U.S. Treasuries, Canadian government bonds, U.K. Gilts, and European government bonds.
Bloomberg’s Electronic Markets solutions are used by leading financial institutions to trade efficiently in over 175 markets around the world. More than 9,000 client firms use Bloomberg Electronic Markets to access industry-leading depth and breadth of liquidity across asset classes from over 1,500 dealers globally. Bloomberg Electronic Markets provides market participants with comprehensive solutions across the trading lifecycle, including robust price transparency, analytics, automation, and execution, powered by Bloomberg’s high-quality, multi-asset class data and tools.
Bloomberg is a leading global provider of business and financial information, offering trusted data, news, analytics, and insights that promote greater transparency, efficiency, and fairness across financial markets. Through innovative technology and reliable solutions, Bloomberg connects key participants throughout the global financial community, helping customers make well-informed decisions, collaborate effectively, and navigate an increasingly complex marketplace.
