Markit launches pricing service for Singapore dollar bond market

By Marisa Wong

Madison, Wis., July 3 - Markit announced the introduction of a bond pricing service for the Singapore dollar bond market on Tuesday.

The new service was launched in response to the Monetary Authority of Singapore's call to broaden and deepen Singapore's debt capital market, according to press release.

The service is intended to significantly enhance price discovery and transparency in the Singapore dollar-denominated bond market. It will also provide market participants with end-of-day mark-to-market prices for valuation and risk management purposes.

According to the release, active market makers in the Singapore dollar corporate bond market have agreed to participate in this initiative and will submit end-of-day bid/ask prices to Markit on a daily basis. The resulting data will be distributed as a standalone product.

The financial information services company opened its Singapore office in 2005.

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