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Rationalisation of the issuance process ? The
modernisation of the fund-raising regime through the introduction of a new
regulatory framework for the issuance of private debt securities that
rationalises a fragmented regulatory structure, speeds up and creates a
facilitative and transparent approval scheme for corporate bonds, imposes
greater disclosure requirements, enhances legal protection afforded to bond
investors, encourages issuers to tap the bond market and provides greater
opportunities for secondary market liquidity.
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The establishment of a reliable and efficient
benchmark yield curve ? A benchmark yield curve was constructed out of
large and liquid, sovereign-credit bond issuances by the government in
accordance with a transparent auction calendar to provide ease and
accuracy in the pricing of corporate bonds.
Widening the issuer and investor base ? For sustenance in bond market
development by providing a virtual platform for the meeting of issuers
(in their search for the most competitive and practical fund-raising
alternative to meet their specific needs) and investors (in their search
for a diversity of investments).
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Improving liquidity in the secondary market ?
Includes efforts to enhance market infrastructure, trading and
operational procedures for the creation of an organised and active bond
market which is efficient and effective towards promoting and attracting
active primary as well as secondary market activity.
Facilitating the introduction of risk management
instruments ? To provide an avenue for issuers and investors to hedge
their respective exposures to the bond market in a most effective and
timely manner. |
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