Chinese bond traders started their day like usual last Wednesday only to find that the terminals they counted on to deliver real-time bond prices had abruptly stopped working.
Of the four go-to platforms for price quotes -- Qeubee, Wind, Dealing Matrix and iDeal -- only iDeal was still providing bond prices. iDeal is operated by the central bank-affiliated China Foreign Exchange Trade System (CFETS). The other three suspended the service, with Qeubee attributing its move to "force majeure," referring to an event beyond its control.
