China Minsheng Bank has adopted Bloomberg’s sell-side execution management solution, ETOMS, alongside expanding its use of Trade Order Management Solutions (TOMS).
The development will be used to support the commercial bank’s RMB cash bond market-making under Bond Connect and its USD interest rate swap (IRS) market-making in Hong Kong.
Read more: Bloomberg and HKEX enhance Swap Connect solutions to facilitate global investments for IRS market
Bloomberg’s sell-side solutions – which include TOMS and ETOMS – will allow the bank to optimise its trading services for international investors; automate the workflows of bond pricing, sales and trade execution; and electronify USD IRS market-making.
“As China’s financial markets continue to open up, China Minsheng Bank is committed to strengthening ties and communications with foreign investors and enhancing our market-making capabilities,” said Qingyu Wang, head of financial markets department at China Minsheng Bank.
“Our collaboration with Bloomberg provides automated workflows for better operational efficiency, a transparent price display channel to facilitate informed decision-making and a means to reach out to global investors.”
TOMS was previously adopted by China Minsheng Bank to book multiple asset class exposures, enabling real-time profit and loss and risk analysis, as well as integration with back-office settlement systems.
The addition of ETOMS will enable the commercial bank to send customised quotes to clients, provide pre-trade quotes and axes into aggregation tools, and display real-time quotes on a designated page of the bank on the Bloomberg Terminal, bolstering communication and trading efficiency among investors overseas.
“We are pleased to strengthen our partnership with China Minsheng Bank and support its international business development with our industry-leading sell-side solutions,” said Dahai Wang, head of Greater China at Bloomberg.
“Electronic trading and automated workflows are important trends in global finance, enhancing competitiveness through more accurate pricing, smoother trade execution, and efficient risk management.”