CB calls EOIs for new electronic bond trading platform

The Central Bank this week called for expressions of interests (EOIs) for the establishment of a new electronic trading platform and a bond clearinghouse for government securities.
The platform should facilitate trading and central counterparty clearing and settlement of government securities.
The Central Bank said state-of-the-art technology of a new electronic platform would result in lower government borrowing costs, increase secondary market transactions, and help the price discovery process, while lowering settlement and counterparty risk and reducing liquidity requirements.
Firms who have experience in creating trading and clearinghouse platforms for government securities or similar debt instruments have been invited to forward their EOIs.
The Central Bank and primary dealers are currently using Bloomberg as their electronic platform to monitor and trade government securities. 
Bloomberg was adopted by the Central Bank in late 2016 as a stopgap measure until a tailor-made platform could be constructed.
Central Bank Governor Dr. Indrajit Coomaraswamy had said that using an electronic trading platform would increase transparency. Sri Lanka’s bond market was hit by a massive scandal in 2015, which apparently led to the non-renewal of contract of the then Governor Arjuna Mahendran.