Bloomberg today announced the launch of a fully automated electronic workflow for the trading and reporting of EUR Interest Rate Swaps (IRS) against Bond Futures through Eurex.
This new end-to-end workflow allows sell-side participants acting as executing brokers to facilitate a transaction using a single interface and benefit from full straight-through processing (STP) using Bloomberg technology.
Assisting Futures Commission Merchants (FCM’s) with a seamless no-touch submission and approval process allows market participants to adhere to exchange order reference schedules that minimize operational risk and reduce the historically manual overhead associated with key trades.
The solution is currently available for EUR IRS spreads on Eurex bond futures both on a peer-to-peer basis and against reference timeframes for IRS traded on trading venues operated by Bloomberg affiliates. The offering will be expanded, in due course, to cover spreads against cash instruments and additional exchange connectivity.
“Increased digitization enables workflow optimization and benefits our clients on both the buy and sell side,” said Derek Kleinbauer, Global Head of Fixed Income & Equities Electronic Trading at Bloomberg. “We are committed to investing in new functionality to support customer needs and look forward to continuing to build this offering as it expands to include a wider range of media.”
Bloomberg Electronic Trading Solutions (ETS) are used by leading financial institutions for efficient trading in more than 175 markets worldwide. More than 9,000 client firms use Bloomberg ETS to access industry-leading depth and breadth of liquidity across all asset classes from more than 1,500 dealers worldwide. Bloomberg ETS provides market participants with end-to-end solutions across the trading lifecycle, including powerful price transparency, analytics, automation and execution, supported by its high-quality data and multi-asset class tools Bloomberg.