Credicorp Capital, a financial services holding company, has adopted Bloomberg’s Trade Order Management System (TOMS). The system will enhance and expand Credicorp Capital’s sell side operations in Chile, Peru, and Colombia.
Credicorp Capital’s Trading Desk in Latin America stated that TOMS will better the company’s internal workflow. TOMS will further enhance its volume with its electronic distribution platform ALLQ for fixed income trading in over-the-counter Latin America Corporate and Sovereign Debt.
Hugo Horta, Head of Capital Markets of Credicorp Capital, voiced the company’s confidence in the system’s ability to enhance Credicorp Capital’s business opportunities in the region: “Credicorp Capital is confident that this Bloomberg technology will add substantial value to our company and clients, and allow us to expand our services in Chile, Colombia, and Peru.”
Robert Friend, Bloomberg Global Head of Sell-Side solutions and Research, commented on the growing demand for trading systems such as TOMS: “As electronic trading in the fixed income markets is expected to grow globally, sell-side firms are increasingly looking for solutions that optimize their entire workflow and give them access to liquidity platforms.”
What TOMS has to offer Credicorp
TOMS’ services will enable Credicorp Capital to manage positions, profits, losses, and risks in real time. The first will also offer bonds with pricing comparisons on Bloomberg’s ALLQ platform, and trading on live-streaming prices. The system further provides services such as automated post-trade allocation, streamlining post-trade workflow, and moving voice trade confirmations (VCON) into the TOMS blotter. In addition, TOMS offers international regulatory reporting, as well as connectivity to online fixed income markets in the United States, Europe, and Latin America.
Bloomberg’s technological trading solutions are making waves in the financial industry, drawing companies and banks to adopt them. The latest financial institution to join was the Central Bank of Azerbaijan, announcing that it will conduct its forex deposits and auctions on Bloomberg’s auction platform.