BOCHK Adopts Bloomberg TOMS for Its IRS Market Making Business

Bloomberg’s award-winning sell-side trade order management system will electronify BOCHK’s interest rate swaps trading

Hong Kong – Bloomberg announced today that Bank of China (Hong Kong) (“BOCHK”)  has commenced using Bloomberg Trade Order Management System (TOMS) for its Interest Rate Swap (IRS) market making business to help offshore investors hedge currency and interest rate exposure. The adoption of Bloomberg TOMS will enhance the bank’s pricing, automation and execution workflow, and is expected to accelerate the electronic trading of Hong Kong Dollar and Chinese Renminbi among offshore dealers and buy-side firms in Hong Kong.

“Following our positive experience using Bloomberg TOMS for our Bond Connect fixed income trading, it was natural for us to extend the use of the system to electronify our IRS market making business. With the aid of the enhanced pricing tool and our leading position in the market, BOCHK is able to offer transparent and competitive price to help offshore investors hedge their currency and interest rate exposure,” said Chengdong Zhang, Chief Dealer of Global Markets, BOCHK. “With the continued internationalisation of the RMB, investors are increasingly relying on IRS traded through Hong Kong to manage their interest rate risks. Bloomberg’s advanced technology solutions, along with its seamless workflows and extensive community of market participants will bring further operational efficiencies to our market making business and accelerate the growth of Hong Kong’s IRS market.”

“We are excited to support BOCHK in their journey to bring electronic trading to other parts of their business,” said Dahai Wang, Head of Greater China at Bloomberg. “The benefits of moving towards a digitised IRS workflow are clear, as it provides participants across the market with access to a better pricing and execution experience. We are also excited to support more currency IRS products to be cleared through Hong Kong Exchange OTC Clearing following the launch of Swap Connect. We look forward to helping advance other parts of the IRS market in the region as more users move from voice trading to our electronic pricing and trading solutions.”

Bloomberg’s TOMS provides sell-side firms the ability to efficiently manage inventory, risk, P&L, compliance, and straight-through processing across various asset classes. The suite of solutions also includes market connectivity and trading tools to support a firm’s electronic trading workflows and help firms synchronise their front office risk and trading with middle-office, operations, and enterprise applications in real-time.

In recent years, TOMS has won numerous industry awards, among others, including the Best Sell-side OMS  and the Best Sell-Side Front-Office Platform awards delivered by Waters Technology. For more information about Bloomberg’s sell-side solutions, please visit https://www.bloomberg.com/professional/solution/solutions-for-the-sell-side/.

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Bloomberg: Irene Gu, +852-29772111, igu3@bloomberg.net