Bloomberg Includes US Treasuries on Market on Close List Trading

Bloomberg has expanded its market on close (MOC) list trading offering to include US treasuries, following on from the launch of MOC for European government bonds. The expansion is set to allow investors to automatically get into or out of the market at closing point, avoiding the need to manually place orders immediately as the market closes.  The new offering will address challenges associated with tracking error and will provide certainty of execution by referencing a specific close time, through the use of Bloomberg’s Evaluated Pricing Service (BVAL) as the closing price. Nine dealers are currently supporting the new workflow, with further liquidity providers expected to join in 2025. Bloomberg has also highlighted further enhancements offered by the new solution. Through the offering, clients will be able to negotiate non-comp trades or send in-comp trades to at least five dealers and use Bloomberg’s integrated axe data, analytics and communication tools to identify the optimal liquidity provider.  Additionally, participants will have the option to negotiate and transact electronically using an end-of-day snapshot, through the functionality of Bloomberg’s Portfolio Trading Basket Builder (PTBB) tool.