BondsInAsiaTM to be Formed by BRIDGE eMarkets, Citigroup, Deutsche and HSBC New Company to Offer Electronic Trading Platforms for Asian Securities HONG KONG, SINGAPORE, July 19 /HK PRNewswire-AsiaNet/ - - BRIDGE eMarkets, Citigroup (NYSE: C), Deutsche and HSBC have agreed to form BondsInAsia, a joint venture company offering regional electronic trading platforms for Asian domestic and international fixed income securities. It is intended that each participant will hold an equal stake in the new company, which will create local multi-dealer trading platforms in each Asian market allowing local market makers to trade with local investors. The platforms will provide pricing, research, news, analytics and commentary, and will be linked to offer trading in local and international Asian markets to both domestic and global market participants. The platforms will be accessible through a range of delivery channels including the Internet. The BondsInAsia platforms are anticipated to go live in the first quarter of 2001, initially covering the Hong Kong, Singapore and G3 currency denominated Asian credit markets, before expanding into Korea, Taiwan, Thailand, Malaysia, the Philippines and India, subject to appropriate approvals. The joint-venture company will bring greater liquidity to Asia's bond market and simplify trade execution. Investors will benefit from greater transparency, lower transaction costs, access to the most competitive quotes and real-time information services. Participating dealers will benefit from ownership, shared development costs, straight-through processing, lower transaction costs and leverage of existing and emerging technologies. Local dealers in each market will be invited to join BondsInAsia as franchisees to participate in the ownership and governance of the local hubs. The use of open standards, a flexible technical infrastructure and a secure operating environment will allow the platforms to accommodate differences in local market conventions while creating a regional marketplace. The participants, as four of the world's leading financial and information service providers, intend to pool their financial, technical and management skills to make the BondsInAsia platforms the preferred channel for the electronic trading and settlement of fixed income securities in Asia. Mr David E. RUTTER, President, BRIDGE eMarkets said: "BondsInAsia is a partnership between four organisations with complementary skills and shared commitment to Asia. Our vision is straightforward - to provide market participants with the most advanced online tools for trading, research and distribution of fixed income securities." Mr. Eric CHEN, Head of Financial Markets, Citibank Asia Pacific said: "Together, the partners bring unparalleled resources and expertise in Asian markets to deliver an efficient and transparent electronic bond trading platform. Our co-operation brings the critical mass necessary to avoid the fragmentation and the development of conflicting standards that up to now have prevented the maturing of the Asian bond market." Mr LOH Boon Chye, Head of Fixed Income and OTC Derivatives in Asia for Deutsche Bank said: " BondsInAsia will provide investors, both local as well as global, an efficient platform on which to trade bonds in the local Asian markets. We view this as a natural evolution in enhancing liquidity and service to fixed income investors and the expertise and commitment of the participants in BondsInAsia will truly make this a seamless and efficient platform. Mr Stuart GULLIVER, Chief Executive Officer, HSBC Investment Banking and Markets - Asia, said: "We believe that BondsInAsia will set the standard for the delivery of Asian fixed income securities across Asia's local markets. By providing local dealers with the ability to fully participate in the evolution of their own markets - both in terms of economics and governance - BondsInAsiaSM offers a compelling value proposition." For company information, please visit: www.BondsInAsia.com Enquiries: Citigate Dewe Rogerson General line: 852-2521-0633 Donna Chan: 852-9436-7398 Charlotte Bilney: 852-9314-3463 SOURCE: BondsInAsia