S&P Global Market Intelligence and Bloomberg Streamline Syndicated Primary Bond Market Workflows

Together S&P Global Market Intelligence InvestorAccess and Bloomberg connect market participants to create seamless workflow solutions to facilitate capital formation. Traders receive the latest new issue updates and data points straight from the bank syndicate into Bloomberg's Execution Management System, TSOX, and are immediately able to action their demand. Clients will be able to raise orders from their native Order Management System (OMS), route them into TSOX where the trading desk can manage the orders, and then electronically deliver them to the syndicate book.

Buyside traders can access standardized deal terms submitted directly from syndicate banks, giving a clear view into all active deals, along with orderbook status and the latest pricing. They are then able to place orders, with all appropriate limits, from the Bloomberg TSOX interface as staged from their firm's OMS. Traders will receive allocations, through TSOX back to their OMS, as soon as syndicate banks release them, resulting in an efficient transition from primary to secondary markets. Deal terms are published directly to the platform and syndicate banks no longer need to rely on sales teams to forward terms to the buyside.

Connectivity works both ways. Buyside traders now have the capability to submit orders themselves, creating a definitive, auditable order record. Order duplication is eliminated and orderbooks are easier to reconcile and allocate. This reduces the amount of time needed to run a deal, speeds up pricing and reduces the risk of errors.

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Standardized deal terms

Receive standardized deal terms so that information on each deal and at each stage is consistent, comprehensive and in a machine-readable format.

Increased visibility

Get clear visibility of all deals that are active at any given time, along with orderbook status (open/closed) and latest pricing information.

Efficient order placement

Execute your order straight into the syndicate book from the Bloomberg TSOX interface as staged from their firm's Order Management System (OMS).

Full auditability

Full audit trail of all communication between sellside and buyside.

Faster allocations

Receive allocations electronically in Bloomberg and route downstream as soon as the syndicate banks release them.

No duplicate orders

One 'golden copy' of the order from the buyside in the orderbook removes the need for duplicate sales orders, speeding up reconciliation and enabling deals to price sooner.

Increased efficiency

Buyside ownership of the order reduces risk
of manual errors, speeds up deal execution
and allows sellside sales to focus more on
value-add conversations with the buyside.