Bloomberg has unveiled its Electronic Trade Order Management Solution, or ETOMS, a managed service used by US regional broker-dealers to access and engage fixed income electronic markets as both liquidity providers and liquidity takers.
ETOMS enables dealers to access liquidity in US corporate, municipal, and government bonds as well as automate certain aspects of trader workflow, such as price generation, trade negotiation and execution. It extends the capabilities of Bloomberg's Trade Order Management Solution (TOMS) for fixed income broker-dealers. ETOMS provides regional dealers with connectivity to 15 electronic trading venues in the US; aggregated market liquidity and order execution tools for price-taking; real-time price generation tools for market making; tools to aggregate client trade flow and facilitate trade negotiation and execution; and client metrics that measure electronic trading performance.
"We use Bloomberg TOMS and ETOMS to aggregate liquidity from across the fixed income universe and manage our electronic order flow, inventory and risk exposure more efficiently," says Daniel Leland, EVP of Dallas-based Southwest Securities. "Bloomberg ETOMS connects us to diverse liquidity sources and automates trader workflow so we can focus on providing our clients with best execution."
Used as a combined solution, Bloomberg TOMS and ETOMS enable firms to manage voice and electronic order flow and consolidate trade reporting to regulatory systems such as Trace, as part of the compliance and trade performance management process.