FirstBank UK Limited, the UK subsidiary of First Bank Nigeria Limited, has unveiled a strategic move to bolster its fixed income bonds business. In a groundbreaking development, the bank has integrated Bloomberg’s Trade Order Management System (TOMS) into its operations, marking a significant leap in its ability to navigate the dynamic African financial landscape.
FirstBank UK, a niche market-maker in African cash bonds, has chosen TOMS for its comprehensive suite of solutions. The system grants access to vital data and analytics, robust communications tools, and efficient order and execution management capabilities. By streamlining its workflow, FirstBank UK aims to enhance market liquidity in Nigerian, Angolan, Egyptian, and Ghanaian Eurobonds, optimizing risk management and inventory.
Olukorede Adenowo, CEO-designate at FirstBank UK, emphasized, “Bloomberg TOMS provides FirstBank UK with a complete end-to-end trading workflow covering African bonds in most of our home markets.” The integration allows the trading desk to monitor positions, profit and loss (P&L), and risks, empowering the bank to expand its footprint in the African Fixed Income landscape.
Lisa Bravo, Global Head of Sell-Side OMS at Bloomberg, expressed satisfaction in assisting FirstBank UK to enhance operational efficiency with TOMS. Bravo highlighted TOMS’s ability to create a seamless workflow, providing real-time execution, risk, and P&L analytics to front office users.
Notably, FirstBank UK has taken its digitization efforts further by integrating TOMS with its Eurobond Single-Dealer Platform. This move centralizes order handling and aggregated custom analytics and liquidity tools, offering clients real-time access to liquidity in African markets.
Robert Hagenaars, Head of Markets at FirstBank UK, emphasized the uniqueness of this integration, stating, “The integration of TOMS with our custom-built electronic trading platform allows our customers real-time access to liquidity in our markets, something unique to the majority of our customers.”
This strategic collaboration positions FirstBank UK at the forefront of technological advancements in African bond trading, setting the stage for a new era in efficient, transparent, and collaborative financial markets. For more information about Bloomberg’s sell-side solutions, please visit Bloomberg’s website: https://www.bloomberg.com/company.
Bloomberg stands as a global leader in business and financial information, delivering trusted data, news, and insights to bring transparency, efficiency, and fairness to markets. The company’s technology solutions enable customers to make more informed decisions and foster better collaboration across the global financial ecosystem.
FirstBank UK is the international banking arm of First Bank of Nigeria Limited, offering a range of services to promote investment and trade in Africa. As a licensed bank in the United Kingdom, authorized by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority (FCA) and the PRA, FirstBank UK remains committed to providing comprehensive banking solutions. For more information, please visit: http://www.fbnbank.co.uk.