Eurex cooperates with Bloomberg on automated trade offset workflow
10 July 2024 Germany
Image: Cagkan/stock.adobe.com
Eurex has launched its Trade Offset workflow which allows users of cleared interest rate swaps to automate the close-out process.
The solution connects Bloomberg’s electronic trading tools to the original Eurex trade record.
Clients who need to close out a swap position at the central counterparty clearing house (CCP) can retrieve their trade details by inputting the Eurex CCP ID into Bloomberg’s trade register, TREG .
The original swap details are then pulled directly from Eurex into this register.
The exact offset of the original swap can then be sent to Bloomberg’s list trading tool, BOLT IRS , for execution, the firm says.
Nicholas Bean, global head of Electronic Trading Solutions at Bloomberg, says: “We are happy to continue to build on our collaboration with Eurex Clearing to deliver improved connectivity and increased workflow efficiency to market participants.
“As clients’ usage of electronic trading increases, it is important that they can trust Bloomberg to source market interest and access deep pools of liquidity.”
Stefan Schmidt, certified international investment analyst at the multi-asset trading desk of Union Investment, adds: “We are proud to have been the first to use this new workflow. It has significantly streamlined our processes and enhanced our operational efficiency.”
The solution connects Bloomberg’s electronic trading tools to the original Eurex trade record.
Clients who need to close out a swap position at the central counterparty clearing house (CCP) can retrieve their trade details by inputting the Eurex CCP ID into Bloomberg’s trade register, TREG .
The original swap details are then pulled directly from Eurex into this register.
The exact offset of the original swap can then be sent to Bloomberg’s list trading tool, BOLT IRS , for execution, the firm says.
Nicholas Bean, global head of Electronic Trading Solutions at Bloomberg, says: “We are happy to continue to build on our collaboration with Eurex Clearing to deliver improved connectivity and increased workflow efficiency to market participants.
“As clients’ usage of electronic trading increases, it is important that they can trust Bloomberg to source market interest and access deep pools of liquidity.”
Stefan Schmidt, certified international investment analyst at the multi-asset trading desk of Union Investment, adds: “We are proud to have been the first to use this new workflow. It has significantly streamlined our processes and enhanced our operational efficiency.”
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