Bloomberg Announces First Trade of EGB Market-On-Close Spread to BVAL Price

Press Release from Bloomberg Professional Services

New list trading workflow allows clients to trade Market-On-Close using BVAL for reference pricing 

LONDON, April 24, 2024 /PRNewswire/ -- Bloomberg today announced that the first electronic list trade in European Government Bonds was executed on Bloomberg's Multilateral Trading Facility (MTF) referencing Bloomberg's Evaluated Pricing Service (BVAL) as the closing price. The trade was executed by J.P. Morgan with a leading European insurance company.

Bloomberg (PRNewsfoto/Bloomberg)

The all-or-none list trade was completed using the Portfolio Trading Basket Builder (PTBB) tool, part of Bloomberg's Portfolio Trading Solution, which allows participants to negotiate and transact electronically using an end of day snapshot. The new offering helps minimise tracking error, and provides certainty of execution, referencing a specific close time. Clients can access integrated axe data, powerful analytics, and communication tools to direct their lists to the optimal Liquidity Provider.

Julian Baker, co-Head of Euro Linear Rates Trading at J.P. Morgan said: "Market participants are always looking for more efficiencies in their trading workflow across all asset classes. We are excited to further enhance our suite of list EGB e-trading capabilities with Bloomberg's new list product."

"The introduction of our new list trading tool, paired with BVAL, builds upon innovative solutions that Bloomberg's electronic trading solutions continues to bring to market," said Derek Kleinbauer, Global Head of Fixed Income & Equity E-Trading at Bloomberg. "Bringing together solutions across Bloomberg provides clients with comprehensive trading tools, and we look forward to expanding this workflow across other market segments and asset classes."

Bloomberg Electronic Trading Solutions (ETS) are used by leading financial institutions to trade efficiently in over 175 markets around the world. More than 9,000 client firms use Bloomberg ETS to access industry-leading depth and breadth of liquidity across asset classes from over 1,500 dealers globally. Bloomberg ETS provides market participants with comprehensive solutions across the trading lifecycle, including robust price transparency, analytics, automation and execution, powered by Bloomberg's high-quality, multi-asset class data and tools.

About Bloomberg
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