The features of a bond include its nominal amount, price, issue date, maturity date and a fixed or floating coupon if there is one. Other examples of optional features may include but not limited to a guarantee (explicit or implicit), collaterals, charges, financial conditions and a rating. These bonds or fixed-income securities (a term commonly used interchangeably) are traded in the Malaysian financial system amongst banks, corporations, other financial institutions like insurance companies, government agencies like pension funds and unit trust companies. The underlying purpose is to invest in an instrument that provides a given yield for a given period of time-based on interest rates, credit, liquidity and economic conditions to meet the investor’s objectives.