Bloomberg integrates Elwood for institutional crypto trading

“This strategic partnership continues to deliver on our mission of providing access to digital asset markets in a way that institutions expect.”

Bloomberg has announced the integration of Elwood’s cryptocurrency trading platform to drive users’ flow directly into Bloomberg AIM, the buy-side order management system (OMS).

The integration is expected to be completed and available for mutual clients of Elwood and Bloomberg AIM in Q2 2022.

The integration with Elwood is representative of Bloomberg’s ‘Buy Side from Every Side’ philosophy and commitment to provide clients with the ability to maintain the full portfolio perspective they need for risk and exposure management when investing in innovative and alternative products without needing to fundamentally change their operating model.

Ian Peckett, Global Head of Buy-Side Product at Bloomberg, said: “We are very pleased to be able to offer Bloomberg AIM clients integrated access to Elwood’s market-leading cryptocurrency trading platform. It has always been our goal to provide clients with the cutting-edge capabilities necessary to manage their entire investment portfolio in an integrated manner, and this increasingly includes alternative asset classes such as cryptocurrencies.

James Stickland, Chief Executive Officer of Elwood Technologies, commented: “This strategic partnership continues to deliver on our mission of providing access to digital asset markets in a way that institutions expect. We look forward to working closely with Bloomberg to simplify institutional access to cryptocurrency markets.”

Elwood is a crypto native solution that acts as a gateway for institutional access to digital assets with its purpose-built infrastructure that delivers deep liquidity and extensive market data.

The firm’s institutional cryptocurrency trading capabilities are now being combined with Bloomberg’s data, analytics, and workflow tools on the AIM platform to capture and manage financial institutions and investment managers’ crypto investments alongside the rest of their portfolio.

Elwood will adopt the Financial Instrument Global Identifier (FIGI) for crypto assets as the common identifier for the integration.

Bloomberg Terminal integrated CME Group’s FX Link

Last year, CME Group announced a new market data and order entry functionality for FX Link, available on the Bloomberg Terminal.

The integration was meant to allow market participants to access pricing, liquidity, and trading for FX swaps in G5 currency pairs.

Providing mutual clients with access to new FX futures contracts through Bloomberg’s ISV, Tradebook, also strengthens FX Link’s position as a cleared and capital efficient central limit order book for FX swaps, which leverages existing OTC and futures workflows. A larger group of market participants are able to view and execute FX Link’s firm liquidity pool.