Bloomberg, a global software company, has revealed that FirstBank UK Limited, a subsidiary of First Bank of Nigeria has adopted its Trade Order Management System (TOMS).
By integrating TOMS into its workflow, FirstBank UK will 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.
“We are pleased to help FirstBank UK enhance operational efficiency across its enterprise with our award-winning sell-side order management solution TOMS,” Lisa Bravo, global head of Sell-Side OMS at Bloomberg, said.
She added that 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.
Olukorede Adenowo, CEO-designate at FirstBank UK, saidBy 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.
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“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,” he added.
FirstBank UK is a niche market-maker to its customers in Africa. The business provides market liquidity in cash bonds, primarily in Nigerian, Angolan, Egyptian and Ghanaian Eurobonds to manage risk and optimise its inventory.
The bank has further digitised its order management workflow by offering clients access to liquidity on its own Eurobond Single-Dealer Platform.
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The application has been integrated with Bloomberg TOMS to centralise both order handling and aggregated custom analytics and liquidity tools within a single interface, to be hosted and connected to multiple trading venues, according to a statement.
Robert Hagenaars, head of markets at FirstBank UK noted that the integration of TOMS with their custom-built electronic trading platform allows their customers real-time access to liquidity in their markets, something unique to the majority of their customers.
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