Nyse Euronext's fixed income trading platform, Nyse Bonds, and Bloomberg Trade Order Management Solutions (TOMS) now offer sell-side fixed income dealers an integrated platform to access the U.S. corporate bond market.
Dealers using Bloomberg TOMS, the leading order management platform for U.S. fixed income securities, can now trade on the NYSE Bonds marketplace via the Bloomberg Professional service, which is used globally by more than 310,000 subscribers.
On NYSE Bonds, institutional and executable orders entered by NYSE members or sponsored participants are displayed on NYSE Bonds' order book and executed on a strict price/time priority. Bloomberg TOMS integrates with NYSE Bonds via a FIX connection that supports market data for price discovery and order management services.
"We are pleased to work with Bloomberg TOMS to provide clients a cost efficient, one stop solution to trading on NYSE Bonds," said Kevin Molloy, Managing Director, NYSE Euronext Fixed Income Group. "Global dealers using Bloomberg TOMS can now make markets, hit and lift markets and route customer orders directly to NYSE Bonds. The connectivity this offering provides supports our efforts to increase liquidity in the U.S. bond markets."
This fully-integrated offering enables Bloomberg TOMS clients to manage inventory, pricing, market making, risk and P&L as one customizable workflow. In addition, users can optimize trading, increase global distribution and improve operational efficiency. Specific features of the offering include:
- Real-time view of NYSE Bonds markets with full depth of book
- Ability to hit/lift NYSE Bonds markets using Bloomberg TOMS
- Straight-Through-Processing (STP) of orders from NYSE Bonds to Bloomberg TOMS and back office systems for efficient execution and reporting
- Inventory acquisition from NYSE Bonds to fill open client orders
- Contribution of executable orders from Bloomberg TOMS to NYSE Bonds' order book to provide liquidity
"Electronic trading in the fixed income market will continue to accelerate in response to growing regulatory guidelines," said Michael Wood, Global Head of Bloomberg TOMS. "In order to effectively compete, sell-side fixed income firms will need connectivity to global liquidity platforms and wholesale markets. By integrating the order management system into this workflow, these firms are able to increase trade volumes and improve operational efficiency."