FirstBank UK has adopted Bloomberg’s Trade Order Management System (TOMS) to optimise fixed income workflow.
FirstBank UK, the UK subsidiary of First Bank of Nigeria, will now have access to a suite of data, analytics and communications. Bloomberg says that this will enable the bank to streamline its fixed income bonds business.
FirstBank provides market liquidity in cash bonds, primarily Nigerian, Angolan, Egyptian and Ghanaian Eurobonds, to manage risk and optimise its inventory. The company offers retail and corporate financial services to more than 42 million customers.
The TOMS has been integrated with the bank’s existing Eurobond Single-Dealer platform, centralising order handling, aggregated custom analytics and liquidity tools within a single interface.
Olukorede Adenowo, CEO-designate at FirstBank UK, says: “By integrating with our existing systems, Bloomberg TOMS provides FirstBank UK with a complete end-to-end trading workflow covering African bonds in most of our home markets. The solution enables us to focus on expanding our footprint in the African fixed income landscape and deliver a first-in-kind service to our customers in Africa.”
Lisa Bravo, global head of sell-side OMS at Bloomberg, echoes the optimism: “TOMS empowers firms to create a seamless workflow from their front and middle-office, through to their operations and enterprise applications, while concurrently delivering their front office users with real-time execution, risk and profit and loss analytics.”
.jpg)