FirstBank UK Limited, the UK subsidiary of First Bank Nigeria Limited, has announced the adoption of Bloomberg’s Trade Order Management System (TOMS) to streamline its fixed-income bonds business.
By integrating TOMS into its workflow, FirstBank UK gains access to a comprehensive suite of data and analytics, communication, order, and execution management solutions.
FirstBank UK, a niche market-maker serving customers in Africa, focuses on providing market liquidity in cash bonds, primarily Nigerian, Angolan, Egyptian, and Ghanaian Eurobonds.
The adoption of Bloomberg’s TOMS will enable the trading desk of FirstBank UK to enhance support for its client base and effectively manage positions, profit and loss (P&L), and risks.
Olukorede Adenowo, CEO-designate at FirstBank UK, expressed the significance of the integration, stating, “By integrating with our existing systems, Bloomberg TOMS provides FirstBank UK with a complete end-to-end trading workflow covering African bonds in most of our home markets. The solution enables us to focus on expanding our footprint in the African Fixed Income landscape and deliver a first-in-kind service to our customers in Africa.”
Bloomberg’s TOMS is renowned for its award-winning sell-side order management solution, empowering firms to create a seamless workflow from their front and middle office to operations and enterprise applications. The system provides real-time execution, risk, and P&L analytics.
Lisa Bravo, Global Head of Sell-Side OMS at Bloomberg, commented on the collaboration, stating, “We are pleased to help FirstBank UK enhance operational efficiency across its enterprise with our award-winning sell-side order management solution TOMS. TOMS empowers firms to create a seamless workflow from their front and middle-office, through to their operations and enterprise applications, while concurrently delivering their front office users with real-time execution, risk, and P&L analytics.”
In addition to adopting TOMS, FirstBank UK has digitized its order management workflow by offering clients access to liquidity on its own Eurobond Single-Dealer Platform.
The platform has been integrated with Bloomberg TOMS to centralize order handling and aggregated custom analytics and liquidity tools within a single interface, hosted and connected to multiple trading venues.
Robert Hagenaars, Head of Markets at FirstBank UK, emphasized the unique benefits for customers, stating, “The integration of TOMS with our custom-built electronic trading platform allows our customers real-time access to liquidity in our markets, something unique to the majority of our customers.”
