Bloomberg Introduces Automated Workflow for JGB Market-on-Close Trading

Bloomberg has introduced an automated workflow for Japanese Government Bond (JGB) Market-on-Close trading, which is the first fully automated JGB trade utilizing this functionality. The new workflow integrates with the Hikene Trading reference rate, known as BB3P, and is accessible via Bloomberg Electronic Markets using Rule Builder. This system allows clients to establish predefined execution parameters and automatically route orders when conditions are met.

Yudhveer Chaudhry, head of Emerging Markets, FX, Commodities & Digital Assets at BlackRock, stated that this combination of Market-on-Close execution and rule-based automation is a significant development for the JGB market. The workflow could help investors reduce transaction costs and improve execution consistency by enabling systematic trading against the BB3P reference rate during periods of high volume.