Bloomberg Tradebook

Bloomberg Tradebook, LLC., the agency broker of Bloomberg L.P., serves global investment advisors, money managers, hedge funds, proprietary desks and broker dealers, with access to global trading venues, proprietary trading algorithms, execution consulting services, pre-and-post trade analytics and independent research.[1] Through a trading platform integrated with the Bloomberg Professional service, Bloomberg Tradebook provides its customers with direct market access to more than 110 markets and global trading solutions for equities, futures, and options across 44 countries, as well as 43 currency pairs. Tradebook offers over 55 proprietary algorithms designed for each asset class and market.[2]

History

Bloomberg Tradebook was founded in 1996 by Kevin Foley as an electronic communication network (ECN) and an alternative trading system (ATS) for U.S. equities.[3] In 1999 Tradebook began offering electronic trading for Asian equity markets and in 2000 the European equity markets became available. In 2002 Tradebook launched Futures trading, followed by US Listed options in 2006[4] and an FX marketplace in 2007.[5]

In 2010, Bloomberg Tradebook developed B-Dark, an algorithm to provide information to traders about where their orders were being filled, even for trades occurring in private electronic transaction networks, or dark pools.[6]

Glenn Lesko became chief executive officer of Bloomberg Tradebook in March 2015.[7] He left the firm after a little more than two years. His final day at Bloomberg Tradebook was on March 22.[8] Ray Tierney, global head of trading solutions, also departed the firm.[9] Tierney had been CEO and president of Tradebook from 2010 to 2015.[10] According to reports, "Bloomberg remains committed to the business, and a successor to Tierney will be announced shortly."[9] Despite the departures, the firm was recognized in August 2017 for the third straight year as the "best agency broker" by Waters Technology.[11]

In November 2011, Bloomberg Tradebook was ranked a top equity trading broker based on interval volume-weighted average price (VWAP) and arrival price in an Elkins McSherry study of more than 2,000 global brokers.[12]

Execution Consulting

In 2011, Bloomberg Tradebook started offering execution consulting services. Execution consulting is an advisory service that uses analytics and knowledge of the market place, specifically execution venues, to improve trading efficiency and reduce implicit trading costs, or execution fees.[13]

Bloomberg Tradebook has a staff of 35 execution consultants globally that take accredited courses ranging from professional consulting through systems, pre and post-trade and technical analysis.[14]

Awards
  • Waters Ranking 2017[11]
    • Best Agency Broker
  • Waters Ranking 2016[15]
    • Best Agency Broker
  • Markets Media 2016 Markets Choice Awards - Best ETF Liquidity Provider[16]
  • HFM 2015 European Technology Awards - Best Risk Management Software[17]
  • Waters Technology 2015 Buy-Side Technology Awards - Best Buy-Side Commodities Trading Platform[18]
  • 2015 Wall Street Letter Awards[19]
    • Best Futures ISV
    • Best Options Trading Platform
  • Markets Media 2015 Markets Choice Awards - Best New Data Product: STAZ[20]
  • The Trade Leaders in Trading 2015[21]
    • 2015 Reducing Market Impact (Hedge Funds)
    • 2015 Smart Order Routing (Hedge Funds)
  • Waters Ranking 2015[22]
    • Best Agency Broker
    • Best Mobile Trading Platform

Independent Research Providers

Bloomberg Tradebook provides clients with consultative services for research and access to independent third-party research. Tradebook partners with independent providers offering fundamental and industry-specific research.[23]

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References
  1. "About Bloomberg Tradebook". Bloomberg Tradebook. Retrieved 18 October 2013.
  2. "Shuaa Capital & Bloomberg Tradebook Launch DMA Trading Platform". Bloomberg NOW. 19 September 2011. Retrieved 18 October 2013.
  3. "Bloomberg TRADEBOOK LLC Company Profile". Yahoo! Finance. Retrieved 18 October 2013.
  4. "Management Team: Brian Coffaro - Global Head of Product Development". Bloomberg Tradebook. Retrieved 2 November 2013.
  5. "Bloomberg Tradebook launches FX marketplace". Finextra. 19 March 2007. Retrieved 2 November 2013.
  6. "Bloomberg Tradebook forges dark pool transparency agreements". Automated Trader. Archived from the original on 23 September 2015. Retrieved 18 October 2013.
  7. "Introducing Tradebook's New CEO and President". Bloomberg Tradebook. Retrieved 2 March 2015.
  8. "Bloomberg's Tradebook CEO departs". Financial News. Retrieved 24 March 2017.
  9. "Bloomberg is shaking up its trading arm". Business Insider. Retrieved 2017-09-11.
  10. "Trouble at Tradebook?". Markets Media. Retrieved 29 March 2017.
  11. "Waters Rankings 2017: Best Agency Broker—Bloomberg Tradebook - WatersTechnology.com". WatersTechnology.com. 2017-08-02. Retrieved 2017-09-08.
  12. Akasie, Jay (3 November 2011). "Who Provides the Lowest Transaction Costs?". Institutional Investor. Retrieved 25 September 2013.
  13. "Getting the Execution Edge". Automated Trader. Archived from the original on 5 September 2014. Retrieved 18 October 2013.
  14. "Execution consulting - up close and personal". FTSE Global Markets. 19 April 2012. Retrieved 18 October 2013.
  15. "Waters Rankings 2016: Best Agency Broker — Bloomberg Tradebook - WatersTechnology.com". WatersTechnology.com. 2016-08-05. Retrieved 2017-09-08.
  16. "Announcing the 2016 Markets Choice Award Winners… - Markets Media". Markets Media. Archived from the original on 2016-02-29. Retrieved 2016-02-29.
  17. "HFM European Technology Awards 2015 - categories and shortlist". eiseverywhere.com. Retrieved 2016-02-29.
  18. "Buy-Side Technology Awards 2015 - All the Winners". waterstechnology.com. Retrieved 2016-02-29.
  19. "Winners". eiseverywhere.com. Retrieved 2016-02-29.
  20. "The 2015 Markets Choice Awards - Markets Media". Markets Media. Retrieved 2016-02-29.
  21. "Leaders in Trading awards winners announced". thetradenews.com. Retrieved 2016-02-29.
  22. "Waters Rankings 2015 — All the Winners and Why They Won". waterstechnology.com. Retrieved 2016-02-29.
  23. "Bloomberg adds seven independent research providers". The Trade. 11 May 2011. Archived from the original on 4 March 2016. Retrieved 18 October 2013.
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