Bloomberg Goes Live with New US Treasury Dealer Algos

Bloomberg has gone live with a new US Treasury (UST) algorithmic dealer offering, providing buy-side clients with access to pools of liquidity usually available only on dealer-to-dealer trading platforms.  The first trade using the offering was completed between Morgan Stanley and a leading buy-side firm according to a story in The Trade news.  Bloomberg’s new UST dealer algos have also received support from Citi, JP Morgan and RBC Capital Markets, with additional dealers expected to join the solution this year.  The solution allows clients to access the algo strategies of dealers on Bloomberg’s Fixed Income Trading (FIT) offering.  According to the firm, dealer algos offer clients the opportunity to execute larger size trades, at tighter pricing, with a reduced market impact.  Bloomberg’s interfaces, BLOT <GO> and TSOX <GO> allow clients to monitor execution slices in real time and adjust algo parameters, which it claims to enable enhanced trader control. Bloomberg FIT is integrated with Bloomberg AIM and Bloomberg TOMS, allowing existing users of these solutions to benefit from the new offering.