BNY Clearing Services has been selected by Bloomberg Tradebook as the exclusive clearing agent for its newly developed electronic fixed-income trading system
Bloomberg Tradebook provides institutional traders, agency brokers, and securities dealers access to multiple sources of liquidity through Bloomberg's global network.
The new fixed income system is partly modeled on the existing equity trading platform, and provides an open central-display and matching system for various fixed-income securities. Initially, fixed-income products that can settle through the Depository Trust and Clearing Corporation, Federal Reserve Book Entry System, Euroclear and Clearstream will be eligible for trading.
Bank of New York subsidiary B-Trade Services already provides clearing services for equity trades routed through Bloomberg Tradebook.