Waters Rankings 2022: Best sell-side order management system (OMS) provider—Bloomberg

Overview

Bloomberg Trade Order Management Solutions (TOMS) provides sell-side firms with multi-asset order and execution management (OEMS) functionality as well as integrated data, pricing, automated market-making and trading tools and connectivity. The suite helps support firms’ electronic trading workflows and synchronize their front-office risk and trading with middle-office, operations and enterprise applications in real time.

“Sell-side firms face multiple challenges, from reducing technology stacks to complying with regulations and streamlining processes. TOMS combines the strength of Bloomberg’s technology and data to provide trading desks with a robust OEMS that enables them to make better informed decisions more systematically and improve execution for clients.”
Phil McCabe, global head of sell-side solutions, Bloomberg

The Solution

TOMS provides sell-side firms with connectivity to more than 40 venues and the ability to manage inventory, risk, profit and loss (P&L), compliance, and straight-through processing (STP) across various asset classes. It is regularly enhanced as markets and technology change; this includes infrastructure build-outs, version upgrades, data sourcing and system maintenance.

Secret Sauce 

TOMS users get more than software—they get all of Bloomberg’s news, analytics and data, pricing tools and yield calculations, directly within their OEMS. Users can add tools to calculate mortgage pay-downs or collateral, or customer preferences for axe distribution. TOMS is also continually enhanced with automation tools and data science-driven analytics.

Recent Milestones

  • TOMS and risk datasets, including those from market-scenario analyses, are available via Bloomberg Query Language (BQL), enabling analysis via Bloomberg BQuant or third-party tools such as Microsoft Power BI.
  • Support for Bloomberg Bridge in the Electronic Trade Order Management Solution (ETOMS) RFQ pop-up and TOMS order blotter
  • TOMS Interactive Guard Rails, which uses machine learning to provide interval estimates for corporate and municipal bond pricing

Future Objectives 

  • Bloomberg will continue to expand functionalities for the asset classes covered by the solution and introduce more tools, notably for foreign exchange, mortgages, repo and municipals.
  • The firm will continue investing in developing TOMS to provide clients with new tools, including pricing capabilities and data science-driven analytics.

 

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