Bloomberg has expanded its electronic trading offering for Australian markets, specifically for onshore-listed ETFs, options and futures.
Ben Pool
Through the new capabilities, eligible onshore participants will be able to electronically negotiate these Australian-listed products by leveraging Bloomberg’s request-for-quote (RFQe) workflow.
The expansion following a variation rule amendment by the Australian Securities and Investments Commission (ASIC) which extends the RFQe workflow to span Australian-listed products.
“Australia’s exchange-traded fund markets continue to grow as investors increasingly adopt ETFs across a broader range of investment strategies,” said Ben Pool, head of Australia and New Zealand at Bloomberg.
“Extending our RFQ workflow to Australian-listed ETFs, options and futures broadens market access while giving eligible participants a consistent trading experience across domestic and global markets.”
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Through the expansion, market participants accessing both domestic and offshore ETF markets will be able to leverage multi-dealer liquidity.
The first transaction has already been completed through the RFQe workflow.
The move also integrates Bloomberg’s EMSX and AIM workflows to create a complete electronic audit trail, expected to reduce reliance on voice, messages and other manual methods used in these markets.
Daniel Walsh, executive advice at Australian investment manager, JBWere, added: “Capabilities such as RFQe contribute to a more efficient and scalable trading environment, helping us better serve clients as markets continue to evolve.”
Elsewhere, Bloomberg also made efforts to boost its Australian electronic trading offering in May this year, expanding its exchange-for-physical (EFP) trading workflow for Australian markets.
The new offering, delivered by Bloomberg Electronic Markets, supports contingent package trading, enabling the negotiation of Australian bonds electronically against a benchmark Australian bond future on an EFP basis.