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Bloomberg has onboarded FirstBank UK, the United Kingdom subsidiary of First Bank Nigeria Limited, to its Trade Order Management System to boost its Fixed Income workflow.
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“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,” said Chief Executive Officer-designate at FirstBank UK, Olukorede Adenowo, in a statement issued by Bloomberg.
“Thanks to Bloomberg’s coverage, TOMS enables the trading desk of FirstBank UK to support its client base and to monitor its positions, profit and loss and Risks,” Bloomberg further stated.
“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 P&L analytics,” said Global Head of Sell-Side OMS at Bloomberg, Lisa Bravo.
With the development, FirstBank UK will now have access to a comprehensive suite of data and analytics, communications, as well as order and execution management solutions, enabling it to streamline its fixed-income bonds business.
“The integration of TOMS with our custom-built electronic trading platform, allows our customers real-time access to liquidity in our markets, something unique to the majority of our customers,” said Head of Markets at FirstBank UK, Robert Hagenaars.
FirstBank UK is a niche market-maker to its customers in Africa, providing market liquidity in cash bonds, primarily in Nigerian, Angolan, Egyptian and Ghanaian Eurobonds to manage risk and optimize its inventory.
