Bloomberg Introduces Automated Workflow for EUR IRS v Bond Future Trading via Eurex

Bloomberg has unveiled a groundbreaking automated electronic workflow designed for the trading and reporting of EUR Interest Rate Swap (IRS) v Bond Future contracts through Eurex.

This cutting-edge solution streamlines the entire process, enabling sell-side participants acting as executing brokers to execute trades seamlessly via a single interface, leveraging Bloomberg's advanced technology for full straight-through processing (STP).

By offering Futures Commission Merchant's (FCM's) a hassle-free, no-touch submission and approval process, this innovation ensures market participants meet exchange-mandated reporting deadlines, thereby minimizing operational risks and alleviating the traditionally manual burdens associated with basis trading.

Currently, the solution caters to Euro-denominated IRS spreads to Eurex bond futures contracts on both matched maturity and versus spot benchmark tenors for IRS traded on trading venues operated by Bloomberg's affiliates. Future plans include expanding coverage to include spreads versus cash instruments and additional exchange connectivity.

Derek Kleinbauer, Global Head of Fixed Income & Equity E-Trading at Bloomberg, emphasized the significance of this development, stating, "Increased electronification enables workflow optimization and benefits our clients across the buy and sell-side. We are committed to investing in new functionality to support clients’ needs and look forward to continuing to build out this offering as it expands to include a wider range of instruments."

Bloomberg Electronic Trading Solutions (ETS) empower leading financial institutions to trade efficiently across 175 markets worldwide. With over 9,000 client firms leveraging Bloomberg ETS, market participants gain access to industry-leading liquidity depth and breadth across asset classes from over 1,500 dealers globally. Bloomberg ETS delivers comprehensive solutions across the trading lifecycle, including robust price transparency, analytics, automation, and execution, fueled by Bloomberg’s high-quality, multi-asset class data and tools.