New list trading workflow allows clients to trade
Market-On-Close using BVAL for reference pricing
LONDON, April 24,
2024 /PRNewswire/ -- Bloomberg today announced that
the first electronic list trade in European Government Bonds was
executed on Bloomberg's Multilateral Trading Facility (MTF)
referencing Bloomberg's Evaluated Pricing Service (BVAL) as the
closing price. The trade was executed by J.P. Morgan with a leading
European insurance company.
The all-or-none list trade was completed using the Portfolio
Trading Basket Builder (PTBB) tool, part of Bloomberg's Portfolio
Trading Solution, which allows participants to negotiate and
transact electronically using an end of day snapshot. The new
offering helps minimise tracking error, and provides certainty of
execution, referencing a specific close time. Clients can access
integrated axe data, powerful analytics, and communication tools to
direct their lists to the optimal Liquidity Provider.
Julian Baker, co-Head of Euro
Linear Rates Trading at J.P. Morgan said: "Market participants are
always looking for more efficiencies in their trading workflow
across all asset classes. We are excited to further enhance our
suite of list EGB e-trading capabilities with Bloomberg's new list
product."
"The introduction of our new list trading tool, paired with
BVAL, builds upon innovative solutions that Bloomberg's electronic
trading solutions continues to bring to market," said Derek Kleinbauer, Global Head of Fixed Income
& Equity E-Trading at Bloomberg. "Bringing together solutions
across Bloomberg provides clients with comprehensive trading tools,
and we look forward to expanding this workflow across other market
segments and asset classes."
Bloomberg Electronic Trading Solutions (ETS) are used by leading
financial institutions to trade efficiently in over 175 markets
around the world. More than 9,000 client firms use Bloomberg ETS to
access industry-leading depth and breadth of liquidity across asset
classes from over 1,500 dealers globally. Bloomberg ETS provides
market participants with comprehensive solutions across the trading
lifecycle, including robust price transparency, analytics,
automation and execution, powered by Bloomberg's high-quality,
multi-asset class data and tools.
About Bloomberg
Bloomberg is a global leader in
business and financial information, delivering trusted data, news,
and insights that bring transparency, efficiency, and fairness to
markets. The company helps connect influential communities across
the global financial ecosystem via reliable technology solutions
that enable our customers to make more informed decisions and
foster better collaboration. For more information, visit
Bloomberg.com/company or request a demo.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/bloomberg-announces-first-trade-of-egb-market-on-close-spread-to-bval-price-302125216.html
SOURCE Bloomberg