Bloomberg Introduces Electronic Trading Workflow for Asset-Backed Securities

Bloomberg announced the launch of a new electronic trading workflow for Asset-Backed Securities (ABS), introducing a list-based workflow with defined dealer response windows designed to support more efficient workflow management in the Bids Wanted in Competition/Offers Wanted in Competition (BWIC/OWIC) process through increased automation and more streamlined execution workflows.

The first trade was completed using the new ABS electronic trading workflow.

The solution, which is part of Bloomberg’s Electronic Markets offering, aims to deliver a structured workflow that integrates deal entry, analytics, and multi-dealer execution, providing an alternative to spreadsheet- and chat-based processes. With straight-through processing (STP), clients can reduce manual processes and streamline execution from pricing through settlement.

“This launch represents an important step in bringing electronic trading workflows to the ABS markets,” said Derek Kleinbauer, Global Head of Fixed Income and Equity Trading at Bloomberg. “By combining structured workflows, analytics, and multi-dealer execution, we’re providing tools intended to support operational efficiency and more data-driven trading.”

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Structured Bid List Workflow
Clients can submit securities to multiple dealers with defined response windows, enabling efficient bid collection within a set timeframe. Users can upload lists or enter bonds manually, select counterparties, and configure timing parameters.

Clients can execute against the most competitive pricing or evaluate bids individually, with control over information disclosure. The workflow supports multiple pricing methodologies, including dollar price and iSpread, alongside Bloomberg’s fixed income analytics.

Built for ABS Trading Workflows
The solution includes functionality designed to support ABS trading practices and improve usability. Clients can request improved pricing from selected dealers, remove completed trades from active views, and streamline order workflows through pre-populated fields. Clients also benefit from enhancing existing processes by improving the speed of bid lists and embedding straight-through processing into daily trading activity.

By capturing dealer responses electronically, the solution also enables analysis of both winning and non-winning bids, providing additional insight into pricing and dealer performance. The solution is being rolled out to clients across the U.S. and EMEA.

Bloomberg’s Electronic Markets solutions are used by leading financial institutions to trade efficiently in over 175 markets around the world. More than 9,000 client firms use Bloomberg Electronic Markets to access industry-leading depth and breadth of liquidity across asset classes from over 1,500 dealers globally. Bloomberg Electronic Markets provides market participants with comprehensive solutions across the trading lifecycle, including robust price transparency, analytics, automation and execution, powered by Bloomberg’s high-quality, multi-asset class data and tools.

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