The offering, which transforms the post-trade workflow through direct front-to-back process, product, and data integration, is being made available to buy-side clients. This is the first of a series of ongoing front-to-back integration points between Bloomberg and J.P. Morgan’s Securities Services. By centralizing and streamlining operational processes and data integration, this offering reduces manual touchpoints and provides increased transparency, thereby mitigating post-trade risks and costs.
Ian Peckett, Bloomberg’s global head of buy-side product, said: “Optimizing their operating model is a critical objective for our clients. Our priority remains enabling the entire investment process and we will continue to provide clients with connectivity to leading service providers like J.P. Morgan to help them reduce workflow fragmentation, manage complexity, and scale their businesses.”
Naveen TV, Managing Director in Securities Services at J.P. Morgan, commented: “One of the hardest challenges to solve in the streamlining of buy-side processes is interoperability with Securities Services providers. This integration allows clients to reside within Bloomberg AIM and use J.P. Morgan as an extension of their operations through sharing of enriched transaction data sets and operational workflow. This true integration gives our buy-side clients better management of transaction data, frictionless workflows and real-time lifecycle transparency, which provides significant value across the front and back office. This solution has the exciting potential to evolve the operating models for many buy-side clients as they harness new efficiencies.”
Bloomberg AIM is an OMS used by nearly 14,000 professionals in over 90 countries at over more than 850 client firms.
Earlier this month, Larry Tabb, founder and CEO of market-structure consultancy Tabb Group, joined Bloomberg, according to his LinkedIn profile. He closed the 17-year old capital markets research and consulting firm, as the firm was badly hit by the isolation measures enforced by companies and government authorities to contain the spread of the Coronavirus pandemic. At Bloomberg LP, he will work full-time as Head of Market Structure Research, Bloomberg Intelligence.