Bloomberg Fixed Income Trading Links to LongView Trading, and more

Bloomberg Fixed Income Trading Links to LongView Trading

Bloomberg, provider of data, news and analytics, last week announced that its Fixed Income Electronic Trading (FIET) is now linked directly to Linedata Services' global, multiasset class order management system, LongView Trading. The direct link provides joint clients with seamless trade flow between the two systems.

Through LongView Trading, clients have a single seamless point of access to Bloomberg's advanced data, news and analytics and trading capabilities. Using a drag-and-drop feature within LongView Trading, clients' trades are sent to and displayed on the Bloomberg Execution Management System screen where users can access Bloomberg's robust data to determine with which dealer to trade. Upon completion of a trade, the trade details automatically flow back into the user's LongView Trading system, thus improving the trade process by minimizing errors and increasing efficiency, according to the release.

Russel Levi of Bloomberg explains, in a release, "The direct link from LongView

Trading to Bloomberg FIET makes it possible for today's leading financial institutions to manage their portfolios, make trading decisions, record transactions and perform risk analysis from a single point. This provides another tool to help buy-side traders manage their fixed income portfolios from a single interface, the all-inclusive Bloomberg Professional service."

Gregg Drumma, director of STP Development at Linedata Services, commented in the release, "The link to Bloomberg provides LongView Trading clients with the ability to react quickly to market conditions, resulting in improved efficiency and increases performance. This brings us one step closer to making efficient, seamless execution and enhanced portfolio management a complete reality for our clients."

Northern Trust Selected Correspondent Services Provider by Commerce Bank & Trust

Northern Trust announced last week that it has been retained to provide trust accounting and custodial services by Commerce Bank & Trust, an independent banking company headquartered in Topeka, Kan. The bank's Investment Management Group has more than a thousand clients with approximately $825 million in trust and custody assets, according to the release.

"We selected Northern Trust because of its outstanding combination of products, technology and service," said Kirk L. Johnson, senior vice president and manager of the Investment Management Group, in a release. "They were able to quickly and efficiently convert over two year's worth of transaction history onto their system from our prior vendor, and the enhancement in capabilities is tremendous for our clients."

Commerce positioned itself to take advantage of Northern Trust's complete range of services, including the Trust/Rite trust accounting system and depository custody platform, said David Batrich, vice president, Northern Trust, in a release. "By bundling our services in a total relationship approach, we are able to offer Commerce Bank the greatest level of efficiencies at the lowest possible cost."

Tel Aviv Stock Exchange Selects SunGard for SWIFT Connectivity SunGard announced this week that the Tel Aviv Stock Exchange has selected SunGard's STeP MINT SWIFTNet solution to connect back-office applications to SWIFT. The Tel Aviv Stock Exchange decided to integrate its existing trading and clearing applications with the standard communication channels, standard messaging formats and comprehensive international community represented by SWIFT, according to the release. The release also states that Tel-Aviv Stock Exchange chose SunGard's MINT solution because of its pre-packaged approach to SWIFT connectivity and integration. SunGard's MINT will provide the gateway connectivity to SWIFT as well as the integration engine to the exchange's back-office applications. It will also perform online transformations between the exchange's internal messages and SWIFT Security trading messages. Eldad Herstig, vice president at the Tel Aviv Stock Exchange, commented in the release,"MINT is a pre-packaged SWIFTNet solution that is both scalable and flexible, positioning the exchange for growth in future SWIFT projects. This also means we can now work with a single vendor for all aspects of the solution and as we expand the range of SWIFTNet services we use." Tom King, president of SunGard's STeP business unit, commented, "By adopting our MINT solution, Tel Aviv Stock Exchange has addressed its short-term SWIFT connectivity requirements as well as allowing for the future by having an open and scalable solution that supports a wide range of financial messaging standards."