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Informist, Thursday, Jul. 9, 2026

NEW DELHI – Bloomberg Thursday said it conducted its first trade in Indian government bonds through its terminal using an electronic workflow in a step that increases the internalisation of the market, the financial services provider said in a release. It joins the ranks of MarketAxess and TradeWeb in providing foreign portfolio investors easier access to gilts by directly connecting with the Reserve Bank of India Negotiated Dealing System-Order Matching platform hosted by Clearing Corp. of India Ltd. 

FPIs can now place, monitor, execute and allocate trades within a fully electronic trading workflow, Bloomberg said. Sister company Bloomberg Index Services Ltd. in January noted the lack of fully automated trading workflows in India as one of the issues raised by market participants when considering India's inclusion in the marquee Global Aggregate Index. The hotly anticipated index inclusion in under review with next update scheduled for mid-2026.

The integration comes as part of regulatory measures to deepen the secondary market. The RBI had linked its government securities trading platform with the global bond trading platform in 2025-26 (Apr-Mar), Governor Sanjay Malhotra said in May. MarketAxess and TradeWeb launched proprietary solutions early in 2026, with increasing market activity since March. Some of these are likely to be diverted to the Bloomberg terminal, which is more widely used, bond market participants said. The US-based State Street Investment Management was the market participant to execute the first trade using the new workflow on Bloomberg.

India's Fully Accessible Route bonds have been part of Bloomberg's Emerging Market Local Currency Government Index since January 2025. India's government in June exempted government securities from both capital gains tax and withholding tax, quelling another issue that Bloomberg Index Services had cited in its January review. Bond traders are optimistic and even domestic market participants have piled onto bonds betting on India's inclusion in the broader index, which is expected to drive over $25 billion in passive inflows alone in FY28.

Helped both by reclassification and fresh purchases, Clearing Corp. data showed FPI holdings of index-eligible fully accessible route bonds rose by a record INR 417.73 billion in June to INR 3.66 trillion, both being record highs. Investment has continued to rise in July and stands at INR 3.73 trillion, also a record high, according to Clearing Corp. data at 1503 IST.  End

US$1 = INR 95.39

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

Reported by Aaryan Khanna

Edited by Akul Nishant Akhoury

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