In January 2000, the Bank launched the firstever integrated electronic bond offering in capital markets. The $3 billion five-year notes were marketed electronically, distributed via the internet, and traded electronically in the secondary market. This transaction set a new standard in the use of technology in bond markets. For the first time, retail customers and smaller institutional investors had access through the click of a mouse to a large global bond in primary offering and were able to buy it at the same price as large institutional accounts. As of June 30, 2000, the E-bond had outperformed comparable securities since its launch.
Capital market innovation helps mobilize lower-cost funds for the Bank’s borrowing member countries.
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