Bloomberg – New York – Bloomberg announced the launch of a new electronic trading platform for municipal securities accessible via the Bloomberg Professional service. Muni Bids Wanted {MBW <GO>} is a list trading application that allows Bloomberg users to electronically submit a bids wanted list of municipal securities to dealers for execution. This new capability provides clients consolidated liquidity and trading, as well as straight-through processing to automate the trading of municipal bonds.
The platform provides asset managers with three methods to stage muni bids wanted requests. While it’s still possible for users to manually enter securities or drag and drop a list from their OMS to a spreadsheet, the platform provides full integration with Bloomberg’s Fixed Income Execution Management System (TSOX) and order management systems, including Bloomberg’s AIM, allowing users to stage the list for straight-through processing.
“As the popularity of separately managed accounts continues to grow, clients have requested automated, electronic processing tools for munis,” said Nicholas Bean, Head of Product, Fixed Income Trading at Bloomberg. “MBW addresses this need with an unprecedented level of efficiency, allowing traders to execute lists in minutes.”
Muni Bids Wanted {MBW <GO>} is seamlessly integrated into the dealer’s interface on Bloomberg {MBWD <GO>}, helping traders meet “best execution” requirements put into effect by the Municipal Securities Rulemaking Board in March 2016. The platform maintains trade data and history, allowing users to efficiently manage their workflow and reference previous information.
“Our research shows more than half of investors now trade municipal bonds electronically,” said Kevin McPartland, Head of Market Structure & Technology Research at Greenwich Associates. “This increased demand is driving market participants to seek solutions that streamline and help manage the trading process.”
To learn more about Bloomberg’s muni trading platform, visit {MBW <GO>} on the Bloomberg Professional service.