OREANDA-NEWS. September 30, 2008. The Bank of Moscow has announced the launch of a family of bond market indices - the Bank of Moscow Bond Index (BMBI). The BMBI indices are called on to become a reliable and convenient tool for analysing the debt market for investors, analysts and bond issuers.

Kirill Tremasov, Director of the Bank of Moscow Analytical Research Department, said: "The family of BMBI indices is an innovative product for the Russian debt market. It differs from existing indices in the method by which it is calculated (a sliding base), as well as the possibility of a broad choice of additional options - building of indices by branch, by bond type, by list, by credit quality. The latest thing for the Russian debt market consists of indices of issuers, combined by a general credit rating. The BMBI family includes 56 different indices and the proposed interface will make it possible not only to reflect price and yield indicators, but also to build spreads and model graphs and to calculate turnover duration and ratios.

For issuers and managers, it will help them determine the indicative rate of securities, since, in just a few seconds; it will make it possible to assess the yield on bonds, both depending on the sector and depending on the issuer's credit rating.

From the point of view of analysts and investors, the index is of interest in that it allows the main trends on the bond market to be identified and greatly simplifies assessment of bonuses or discounts in a given sector.

Igor Sukhanov, Managing Director of the Bank of Moscow Investment Banking Department, said: "The appearance of the BMBI family of indices is undoubtedly a major event for the infrastructure of the Russian debt market. Our market has grown, become deeper and multi-faceted; different groups of borrowers have appeared and, most important, a professional community of investors for whom the product will be of interest because of its broad opportunities for comprehensive analysis and mobility. We hope that, in time, the BMBI will become the base standard for the Russian debt market."