Bloomberg today announced a new streamlined workflow between BSKT its primary market solution for exchange traded funds (ETFs) and Brown Brothers Harriman (BBH), a market leading ETF custodian and administrator.
This is the first real-time solution that provides authorized participants a single interface for ETF order taking and negotiating ETF baskets.
BSKT is a primary market solution for negotiation, ticketing and routing ETF creation and redemption transactions, and is used by ETF issuers, market makers, authorized participants, distributors, custodians and institutional investors. The collaboration between Bloomberg BSKT and BBH represents a significant advancement in market architecture that will consolidate disjointed processes across systems. The resulting integration improves workflows for authorized participants by delivering an optimized order management experience.
“We are pleased to work with BBH to bring more efficiency to the ETF primary markets by delivering a single interface that creates a seamless, quicker workflow for our clients,” said Benjamin Morris, Global Head of BSKT at Bloomberg. “The ETF market has grown tremendously over the last decade and shows no sign of slowing down. This integration enables us to continue to streamline the ETF creation process, and highlights our investment in the future stability and scalability of this market.”
“We understand the desire for APs to have access to a universal platform and pleased to collaborate with Bloomberg as they continue to advance their solutions,” said Vivian Tung, Senior Vice President at BBH. “The resulting connectivity and integration between our order-taking platform and BSKT opens the door for APs and MMs to transmit all order types through Bloomberg. We believe BSKT users will benefit from the real time communication and controls established as part of this enhancement.”
BSKT is a part of Bloomberg’s comprehensive ETF suite of products that support the entire ETF lifecycle, and are used by investors, issuers, and liquidity providers. Powerful portfolio analytics enable clients to analyze positions, historical performance and risk. Real-time data feeds and evaluated pricing on Bloomberg help track intraday ETF pricing across the liquidity spectrum.