In the first-ever use of an electronic trade order management system by a Vietnamese financial institution, Techcombank has adopted Bloomberg's Trade Order Management System (TOMS) for a variety of its trade and order management needs.
Techcombank, one of the largest commercial joint-stock banks in Vietnam, is recognized as a leader in embracing new technologies. Techcombank is the first financial institution in Vietnam to adopt an automated front- and middle-office treasury solution, using TOMS for trade entry, position keeping and risk management needs across various asset classes.
The broad range of products supported by TOMS enable the firm to have one order management platform across all dealing desks, thereby providing a complete view of risk across products and eliminating the need to integrate disparate systems to produce an aggregated view of the firm's exposures.
"At Techcombank, we believe investing in technology to support sustainable long-term growth of our business," said Nguyen Duc Vinh, CEO of Techcombank. "Having a systems solution for Treasury will help us to better manage our risk and develop new products for our customers."
"In a growing market environment like Vietnam, having a proper systems solution is critical to the success of the business. Adopting Bloomberg TOMS is the first step towards a comprehensive Treasury systems solution," said Bimo Notowidigdo, Head of Markets at Techcombank. "This system will allow us to improve the efficiency and effectiveness of our business by consolidating all of our risks across the various asset classes that we trade. We can leverage on Bloomberg's pricing engines to offer customized solutions to meet our growing customer needs, with full integration for trade capture. In addition, we were able to integrate TOMS quickly and with ease, thus further facilitating our adoption of the system."
"It is very exciting to welcome Techcombank as a TOMS client," said Ben MacDonald, global head of Bloomberg TOMS. "We worked closely with the bank to prepare for the adoption and integration of the electronic system. We look forward to continuing our partnership and to being an asset to Techcombank as it continues to grow.
"Financial institutions in Asia use Bloomberg TOMS to increase efficiency and enhance execution and workflow," MacDonald added. "As market participants in Vietnam move to adopt practices that are similar to those being used by their peers across the region, Techcombank is leading the way with its use of TOMS technology."
Bloomberg TOMS is the most complete, multi-instrument trade order management platform in the market. It combines front-end position and risk management and electronic ticketing with back-office integration of trade data. Users can manage inventory, monitor risk and P&L and manage orders from one screen. TOMS leverages Bloomberg data to enhance the order management system across a wide range of products.