More NewsBloomberg Function Opens New Capital Market In Asia-Pacific

Bloomberg Function Opens New Capital Market In Asia-Pacific

Bloomberg has opened the first overnight index swaps market in Indonesia, creating the only fixing and valuation platform for this new market. Overnight index swaps are an efficient tool for companies, banks and other financial institutions to hedge against short-term interest rate risk and fluctuations. Fifteen banks are participating in the Bloomberg Indonesian Overnight index swaps fixing, each contributing daily rates. Bloomberg said that the launch of the new market underlined its commitment to helping the Asia-Pacific capital markets grow. The first transaction on the platform took place on 7 December 2004 with Deutsche Bank Jakarta swapping obligations between the overnight fixing of Indonesian Rupiah with the counter-party HSBC Jakarta.

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