Bloomberg, a provider of financial software, data, and media, has initiated a new Trading Platform for municipal securities, which can be utilized through the Bloomberg Professional service. The new application will focus on municipal bonds, featuring revamped trading capabilities, according to a company report.
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Muni Bids Wanted {MBW } serves as a list trading application – the new platform will cater to existing Bloomberg users, helping clients electronically submit a bids wanted list of municipal securities to dealers for execution. The launch is important for users as it helps provide access to consolidated Liquidity and trading, in addition to straight-through processing (STP) in a bid to help automate the trading of municipal bonds.
Pent Up Demand Driving New Muni Bonds’ Functionality
Asset managers will also be given multiple options from which to stage muni bids wanted requests. Moreover, the platform will be fully assimilated into Bloomberg’s Fixed Income Execution Management System (TSOX) as well as its order management systems – enabling a fully streamlined approach for users.
Nicholas Bean
According to Nicholas Bean, Head of Product, Fixed Income Trading at Bloomberg, in a recent statement on the platform launch: “As the popularity of separately managed accounts continues to grow, clients have requested automated, electronic processing tools for munis. MBW addresses this need with an unprecedented level of efficiency, allowing traders to execute lists in minutes.”
“Our research shows more than half of investors now trade municipal bonds electronically. This increased demand is driving market participants to seek solutions that streamline and help manage the trading process,” added Kevin McPartland, Head of Market Structure & Technology Research at Greenwich Associates.
