Waters Rankings 2020: Best Sell-Side Order Management System Provider—Bloomberg
Five-and-a-half years ago, when Phil McCabe joined Bloomberg, he was pleasantly surprised by its “culture of continuous innovation—something that [founder] Mike Bloomberg built into the DNA of the company,” and its responsiveness to clients’ needs. In one previous role at a bank in London—McCabe spent 14 years in rates trading and structuring positions at banks before joining Bloomberg in 2014—he asked the firm’s IT department to make a change to a system and was told that it might get onto their to-do list in 18 months. The moral of the story: Real-time systems require real-time responsiveness.
Now, as Bloomberg’s global head of sell-side solutions, McCabe oversees the team that has won the best sell-side order management system (OMS) provider category in the Waters Rankings for the fifth year in a row—a feat he attributes to that culture of innovation and responsiveness. “We’re always looking to make sure that what we already have is working better, and to add new products and services,” he says.
Increasingly, the new products and services—or enhancements to existing ones—being developed are designed to help clients better understand customer activities and market forces. For example, one focus over the past few years has been to ensure that data is consistent across the vendor’s trading and risk products designed for use in the front and middle office, to ensure calculations run in both departments yield consistent results for activities such as Value-at-Risk calculations and capital allocation.
Another example is direct integration of its DASH salesperson analytics tool for equities and fixed-income liquidity discovery, and for making sure salespeople are aware of and can take advantage of any existing liquidity, into the trading system, enabling traders to respond to available liquidity instantaneously.
Now, McCabe is targeting a sixth win. And though unwilling to tempt fate by talking about new services still under wraps, he says there’s a lot of “exciting stuff” in the works, hinting at ever-tighter integration of risk management tools.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@waterstechnology.com
More on Awards & Rankings
Sell-Side Technology Awards 2024 winner’s interview: Broadridge
In this year’s Sell-Side Technology Awards, Broadridge Financial Technology won Best outsourcing provider to the sell side thanks to its hugely successful business process outsourcing offering
Waters Rankings 2024: Best market risk solution provider (highly commended)—FactSet
Product/service: FactSet Multi Asset Class Risk Solutions
Waters Rankings 2024: Best portfolio management system provider (highly commended)—FactSet
Product/service: FactSet PM Hub
Waters Rankings 2024 winner’s interview: IPC Systems
IPC Systems won the Best cloud infrastructure provider category in this year’s Waters Rankings. Tim Carmody, CTO of IPC, discusses his firm’s recent success in the rankings
Waters Rankings 2024 winner’s interview: Vneuron
Vneuron Risk & Compliance won the best AML compliance solution provider category in this year’s Waters Rankings.
Waters Rankings 2024 winner’s interview: Cloud9
Cloud9, part of Symphony, won Best trading floor communication system provider category in this year’s Waters Rankings.
Waters Rankings 2024 winner’s interview: AI Risk
New York-based AI Risk won the Best cyber security provider category in this year’s Waters Rankings.
Waters Rankings 2024: Best performance measurement and attribution system provider—FactSet
Product/service: FactSet Performance Solutions