Vienna Stock Exchange is now offering continuous trading in all Austrian fixed-interest government bonds to improve transparency for fixed income traders.
From today, all 21 Austrian government bonds will be available for continuous trading on exchange, having previously only been traded in a one-time intraday auction.
“Presently, most government bonds and corporate bonds are traded over the counter - this means manual trading and a lack of transparency for trading members and investors. With the introduction of continuous trading and market making, trading in government bonds on the exchange now stands for the highest possible level of transparency and security,” said Birgit Kuras, member of the Management Board of Wiener Börse AG.
The bonds being admitted to trading have a total outstanding volume of €189.6 billion with a maturity of one to 46 years.
Data on the bonds, including interest rate, price, yield and issuing volume are all publicly available on the Vienna Stock Exchange website. The market datafeed will also display full order and trading information, with end-of-day valuations published to serve as a reference price.
Trades will be cleared and settled via Central Counterparty Austria. Trading runs from 9am until 5.30pm.
Austria’s Treasury said it supports initiatives to enhance transparency and said the continuous trading of government bonds would significantly improve the ability to trade them, particularly for retail investors.