Bloomberg Tradebook expands independent research network

Agency broker Bloomberg Tradebook has more than tripled its number of relationships with research providers.
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Agency broker Bloomberg Tradebook has more than tripled its number of relationships with research providers.

The expanded team of independent research providers (IRPs) now includes Capital Markets Research, IPO Financial Network, Roubini Global Economics, Sales Pulse Research, Turning Point Analytics, Two Rivers Analytics and Veritas Investment Research.

“We chose these independent research providers after a deep, rigorous and analytical process,” said Raymond M. Tierney III, chief executive of Bloomberg Tradebook. “Our execution expertise combined with investment ideas from leading IRPs and Bloomberg's unmatched data and news gives clients valuable tools to seek maximum alpha.”

The new firms join Bloomberg Tradebook's current research roster of Arete Research, Riedel Research Group and Thompson Research Group.

“Bloomberg Tradebook has a distinguished history as an innovator in merging insight with its clients' workflow and Roubini Global Economics gives its clients a view into the economic dynamics that affect investment decision-making,” said Dean Daniels, chief executive of Roubini Global Economics.

In addition to receiving research reports and events, Bloomberg Tradebook customers can now also connect directly with the analysts themselves.

The agency broker said it would provide clients with specific details on what research they would receive for the fees they pay and clients would only pay for the research they wanted. Payment options included hard dollars, commission sharing arrangements or bundled commissions.

“These initiatives move us closer to our goal of being the industry's broker of choice,” Tierney said.

Recently, there has been an increasing trend towards agency brokers building research-based offerings to differentiate themselves and attract clients. Last October, agency broker and financial technology firm ITG acquired Majestic Research to provide a data-driven research offering known as ITG Investment Research.

Instinet, a large broker in the electronic markets, has provided client access to independent researcher providers since 2003.