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FIXED INCOME
A Bloomberg Professional Service Offering
INTEGRATED ACCESS TO EMBONDS
ON TSOX <GO> EXPANDS ACCESS
TO EMERGING MARKETS
NEW ACCESS TO AN EMERGING MARKETS ORDER
BOOK DIRECTLY FROM THE BLOOMBERG TERMINAL
TSOX, Bloomberg’s Execution Management System for fixed income, derivatives and futures, now offers integrated access to
the Emerging Markets Bond Exchange fixed income electronic trading platform, EMBonds, giving traders direct click-to-trade
access to liquidity from the Bloomberg Terminal®. Through its all-to-all platform, EMBonds provides the conduit for easier
access to a more complete and concentrated pool of liquidity for supported emerging markets.
Bloomberg users connecting
to EMBonds will immediately
augment their trading
experience with more robust
price discovery, diversity
of liquidity and insight into
the depth of market pricing.
Embedded access to realtime, tradable, ticking prices,
alongside the traders’ staging
blotter for orders and other
Bloomberg liquidity offerings,
allows the emerging markets
bond trader to enjoy a richer
end-to-end trading experience.
SIMPLIFIED ACCESS TO LIQUIDITY
The focus of EMBonds is to establish liquidity-providing relationships with local bank providers, many of whom are considered
primary dealers in their respective markets. It can be an administrative challenge accessing emerging market bond liquidity sourced
from diverse onshore and offshore counterparties. EMBonds simplifies traders’ access to prices, eliminating the need to establish
bilateral trading relationships. It accomplishes this by offering a central counterparty which intermediates all trades executed in the
order book. With a single onboarding of EMBonds’ central counterparty, a Bloomberg user can now gain access to every local bank
provider, international bank market maker and other interested buy-side counterparty.
MORE TRADING STYLES FOR THE EM TRADER
In line with the trading functionality available via TSOX for
supported order book offerings, emerging market bond traders
are now able to hit bids or lift offers as price takers — or leave
resting orders in the order book — directly on EMBonds
without leaving the Terminal. The Market Data Monitor (MDM)
view for corporate bonds will enrich the view of liquidity
available to Bloomberg, showing full market depth for
supported securities while preserving anonymity.
OPERATIONAL FLEXIBILITY
Leveraging the services of the electronic trading platform’s
central counterparty, EMBonds offers local settlement for the
majority of the local bonds traded on the platform — in addition
to Euroclear, Clearstream and DTC settlement avenues.
ABOUT TSOX
TSOX is Bloomberg’s Fixed Income Execution Management
System (EMS), used by trading desks to manage their daily
trading workflows in fixed income, derivatives and futures.
TSOX presents traders with the tools to view orders to be
executed, to monitor available pricing and inventories for
highlighted securities, to exercise various execution styles for
the routing and execution of orders, to receive fill information
and initiate post-trade actions such as allocations, and to
facilitate straight-through-processing back to the firm’s order
management system. Coupled with pre-trade decision-making
tools and alerts, integrated compliance rules and audit trails,
and efficient access to amplifying information relevant to
a given security, TSOX provides the trading desk with a
powerful end-to-end EMS platform.
TSOX
diversifies the breadth of pricing
available through its liquidity hub for
traders, adding EMBonds as a new
direct-access trading venue for
emerging market bonds.
LEARN MORE
To learn more about TSOX and its connections to third-party liquidity venues, contact us at [email protected].
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Emerging Markets Bond Exchange Limited is registered under company number 08399650 in England and Wales. The company is authorized and regulated by the UK Financial Conduct Authority with Firm Reference
Number 624775. The data included in these materials are for illustrative purposes only. ©2017 Bloomberg L.P. S737452551 0417