FirstBank UK Limited, the UK arm of First Bank Nigeria Limited, has announced that it has implemented Bloomberg’s Trade Order Management System (TOMS).
FirstBank UK will be able to streamline its fixed-income bond business by incorporating TOMS into its workflow. This will provide it access to a full suite of data and analytics, communications, and order and execution management solutions.
FirstBank UK caters to a specific market segment for its African clientele. In order to control risk and maximize its inventory, the company offers market liquidity in cash bonds, mainly in Nigerian, Angolan, Egyptian, and Ghanaian Eurobonds. The trading desk at FirstBank UK is able to service its clientele and keep an eye on its holdings, profit and loss (P&L), and risks because of Bloomberg’s coverage of TOMS.
Olukorede Adenowo, CEO-designate of FirstBank UK, stated, “Bloomberg TOMS integrates with our existing systems to provide FirstBank UK with a complete end-to-end trading workflow covering African bonds in most of our home markets.”
“With the solution, we can concentrate on growing our presence in the African fixed-income market and providing our customers in Africa with a first-rate service.”
Speaking as well, Lisa Bravo, Global Head of Sell-Side OMS at Bloomberg, stated: “We are pleased to help FirstBank UK enhance operational efficiency across its enterprise with our award-winning sell-side order management solution TOMS.”
“TOMS enables organizations to provide real-time execution, risk management, and profit and loss analytics to their front office users while simultaneously enabling a smooth workflow from their front and middle offices to their operations and enterprise apps.”
