[ S U R V E Y | E X E C U T I O N M A N A G E M E N T S Y S T E M S ]
Bloomberg
Bloomberg ’ s multi-asset execution management system – known as EMSX for equities , FXEM for foreign exchange and TSOX for fixed income , derivatives and futures – supports a wide range of both electronic and voice execution workflow and connectivity to all major broker / dealers and global exchanges , offering clients full straight-through processing ( STP ) services . Over the past year , Bloomberg won contracts to supply the European Central Bank with electronic trading platforms , with futures trading supported by Bloomberg ’ s multiasset EMS , Bloomberg Tradebook ISV and EMSX . Bloomberg also saw a wide range of institutions adopting its technology stack for improved workflows , including German asset manager BayernInvest , in August . Bloomberg received 114 ratings from its buy-side clients in this year ’ s survey , ranking the vendor second highest amongst peers in terms of number of responses .
Bloomberg ’ s overall average score in this year ’ s survey dropped four basis points to 5.45 , maintaining its position right in the middle of the good range ( 5.00-5.99 ), indicating Bloomberg continues to consistently meet client expectations . Bloomberg ’ s highest score was once again in the area of reliability and availability ( 6.34 ), which achieved a 16 basis point increase from last year , albeit a little shy of the category benchmark . Bloomberg showed strong improvement in several key functional areas with the most significant year-on-year increases being in the areas of breadth of asset class coverage (+ 0.21 ), reliability and availability (+ 0.16 ) and client service personnel (+ 0.06 ).
Clients responding to Bloomberg in this year ’ s survey were dispersed across all major regions around the world , with the majority based in Europe ( 49 %) and North America ( 36 %). In addition , around 40 % of clients responding to Bloomberg were from firms managing upwards of $ 50 billion in AUM . When asked which additional capabilities the buyside would like to see from Bloomberg , respondents cited expanded access to asset classes , better connectivity and interoperability with other systems outside of the Bloomberg ecosystem , additional TCA capabilities , enhanced customisation features , more flexibility and improved customer service and further integration of AI and machine learning technology .
BLOOMBERG RATINGS FOR EMS PERFORMANCE
Reliability and availability |
Latency |
Client service personnel |
Ease-ofuse |
Handling of new versions / releases |
Breadth of broker algorithms |
Timeliness of updates for broker changes |
FIX capabilities |
6.34 5.84 5.05 5.42 5.26 5.47 5.37 5.66
Breadth of asset class coverage |
Breadth of direct connections to venues |
Product development |
Ease of integration to internal systems |
Overall cost of operation |
Average score |
5.67 5.52 4.83 5.10 5.30 5.45
KEY STATS |
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6.34 |
4.83 |
+ 0.21 |
-0.20 |
Highest score ( reliability and availability ) |
Lowest score ( product development ) |
Most improved ( breadth of asset class coverage ) |
Least improved ( timeliness of updates for broker changes ) |
86 // TheTRADE // Q3 2024 |
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