Georgia central bank adopts Bloomberg’s E-Bond tech for repo

Bloomberg and the National Bank of Georgia (NBG) announced the launch of the Bloomberg E-Bond technology solution for local currency repo instruments. The Bloomberg E-Bond solution provides electronic trading functionality for participants in the Georgian repo market and provides market surveillance tools to the National Bank.

The solution provides the primary trade negotiation system for local currency repo trading in Georgia’s inter-dealer market. It commenced operation and became the National Bank of Georgia’s official market platform for repurchase agreements on November 28, 2022.

The Georgia E-Bond Repo solution allows local market participants to trade repo and reverse repo via two trade negotiating modes, VTR (voice trade affirmation) and RFQ (request for a quote). Georgia E-Bond provides a complete, consolidated marketplace for Georgian repos, offering market participants a robust and flexible set of tools supporting the full trade workflow. This includes pre-trade price discovery and analytics, the ability to handle multi-dealer RFQ, downstream integration with banks’ middle and back-office systems, and integrated trade capture and reporting tools.

“Well functioning financial markets are an important priority for the NBG, as they support stable economic growth, financial stability and monetary policy implementation. To foster local financial markets development, we have been working in close cooperation with Bloomberg to launch Georgian Repo E-Bond”, said Archil Mestvirishvili, vice governor of the NBG, in a statement. “Bloomberg has been a provider of choice for local market participants and the central bank for more than a decade. Therefore, we are delighted to be the first market globally to adopt Bloomberg’s new solution for the repo market, which offers a much better user-friendly experience and full integration with our securities settlement system for automated, fast and secure processing of interbank securities transactions”.

“The solution will contribute to increasing the transparency, liquidity and efficiency of the Georgian Repo market,” said Katharine Furber, Bloomberg’s head of Emerging Markets Trading Product, in a statement. “Debt markets require robust technical infrastructure solutions that are tailored to local market requirements, and our extensive experience in supporting fixed income trading processes allows us to provide solutions that can easily be adapted to the needs and requirements of institutions such as the National Bank.”

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