6 th International Conference “Russian Rates Derivatives 2012: New Environment?” Location: EBRD, Russia Nat FX Association, ISDA Organisers: London, European Bank for Reconstruction and Development, London Date: Tuesday, 14 th March 2012 Timothy Murphy, Bloomberg London Bloomberg RUSSIAN DERIVATIVES Market Participation

Bloomberg COUNTRIESFIXED INCOMEDERIVATIVES, FINANCING Global market leadership in the electronic trading and trade confirmation of OTC Derivatives transactions

Bloomberg

Bloomberg Bond AuctionsBloomberg E-Bond Bloomberg THROUGH-PUT FIXED INCOME CCP WORKFLOW PROCESS

Bloomberg direct connectivity to all major Central Clearing Parties (CCPs) Select your Derivatives Clearing Member and / or submit trades directly to your chosen Clearing House Receive real-time status on your and your clients’ trades from your CCP and Clearing Broker / Member Allocate and Submit your trades on Bloomberg network without the need for 3 rd party middleware.   

NYSE Euronext and Bloomberg Platform Automates Real Time, Pricing, Routing, Trading, Confirmation & Settlement Process March 2012 Real-time view of NYSE Bonds markets with full depth of book Ability to hit/lift NYSE Bonds markets using Bloomberg TOMS Straight-Through-Processing (STP) of orders from Platform to Exchange Back-Office Systems Custodian Systems, Full Audit Trail, efficient Execution and Reporting Inventory acquisition from NYSE Bonds to fill open client orders Fully Integrated Through-Put System for Fixed Income

Bloomberg Committed to assist all market developments and transparency to improve efficiency and clarity, reducing risks. Goal is to facilitate Russian OTC Derivatives trading, execution and reporting Fully co-operative with all involved market participants

Questions