Tiny UAT Hooks Bloomberg to Back Commission Savings Software

Ray Tierney, Bloomberg Tradebook

Bloomberg Tradebook, the agency broker-dealer, signed a multi-year licensing agreement early in 2012, rebranding the product as Bloomberg Tradebook Boomerang. It officially launched in April. Not only does it give Tradebook desired access to asset managers, asset owners, and subadvisors, it also hit a particular nerve with Tradebook CEO Ray Tierney, formerly of Morgan Stanley Investment Management.

"[At Morgan Stanley Investment Management], commission recapture was a significant part of our bus