“Sales-side businesses are increasingly looking to shrink their technology stacks, further automate their processes, and benefit from advances in artificial intelligence and machine learning. The strength of Bloomberg’s offering lies in the combination of our technology and our data, and in our commitment to constantly introduce innovations and provide solutions that are intuitive and easy to install and use. This allows us to provide businesses on the seller side with a solid OEM that helps trading desks make more informed decisions in a more systematic way and improve execution for their clients.
Phil McCabe, Global Head of Sell-Side Solutions, Bloomberg
WHY THEY OR THEY WON
Basically, Waters Rankings is a popularity contest and the winners are chosen simply by the number of votes you get. Whereas Bloomberg won the best sell-side WHO 12 year old category 11, it is fair to say that TOM is a very popular product on Wall Street, and there’s no reason to believe Bloomberg’s run won’t continue.
Bloomberg introduced analytics to support decision making on the trading desk. The TOM The machine learning-based order recommendation tool uses the company’s own historical data.
The company added new navigation features through custom tiles that aggregate data and provide smarter filtering.
Additional Libor transition and risk-free rate (RFR) solutions have been put in place, in particular to integrate RFRs in TOM and electronic trading workflows, and structuring and risk management tools in MARCH.
Front-office functionality and risk analysis for RFR products, loans and structured notes have been extended. GUIs for the gamma curve risk of interest rates and NLP Explain have been improved for more transparency and exploration capabilities.
In response to market volatility amid the Covid-19 pandemic, measures to support negative rates and commodity futures, and government responses (for example, TALF) were introduced to help companies manage unprecedented volumes of derivative transactions.
WHAT‘S TO TO COME
For TOM, the company will continue to extend the functionality for the asset classes covered by the solution, and to introduce more tools, notably for foreign exchange, mortgages, pensions and municipal.
Bloomberg also says he will continue to invest in development TOM provide customers with next-generation tools, including pricing capabilities and data science-based analytics.
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