The Japanese Finance Ministry is to set up a communications network of personal computers to ensure the prompt transmission of information on new government bond issues between members of underwriting syndicates, following the introduction of an auction system for long-dated Japanese government stock in April: the construction of the network is partly a response to pressure from foreign banks in Japan that feel at a disadvantage under the current system where information on government bond issues is given to the presiding banks of the Federation of Bankers Associations of Japan, which transmits it on to other members of the syndicate by ordinary means – mail or whatever; a new information centre will also display Reuters and Telerate data.
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