Bloomberg integrates Elwood for institutional crypto trading

Rick Steves

“This strategic partnership continues to deliver on our mission of providing access to digital asset markets in a way that institutions expect.”

Bloomberg has announced the integration of Elwood’s cryptocurrency trading platform to drive users’ flow directly into Bloomberg AIM, the buy-side order management system (OMS).

The integration is expected to be completed and available for mutual clients of Elwood and Bloomberg AIM in Q2 2022.

The integration with Elwood is representative of Bloomberg’s ‘Buy Side from Every Side’ philosophy and commitment to provide clients with the ability to maintain the full portfolio perspective they need for risk and exposure management when investing in innovative and alternative products without needing to fundamentally change their operating model.

Deep liquidity and extensive market data

Ian Peckett, Global Head of Buy-Side Product at Bloomberg, said: “We are very pleased to be able to offer Bloomberg AIM clients integrated access to Elwood’s market-leading cryptocurrency trading platform. It has always been our goal to provide clients with the cutting-edge capabilities necessary to manage their entire investment portfolio in an integrated manner, and this increasingly includes alternative asset classes such as cryptocurrencies.

James Stickland, Chief Executive Officer of Elwood Technologies, commented: “This strategic partnership continues to deliver on our mission of providing access to digital asset markets in a way that institutions expect. We look forward to working closely with Bloomberg to simplify institutional access to cryptocurrency markets.”

Elwood is a crypto native solution that acts as a gateway for institutional access to digital assets with its purpose-built infrastructure that delivers deep liquidity and extensive market data.

The firm’s institutional cryptocurrency trading capabilities are now being combined with Bloomberg’s data, analytics, and workflow tools on the AIM platform to capture and manage financial institutions and investment managers’ crypto investments alongside the rest of their portfolio.

Elwood will adopt the Financial Instrument Global Identifier (FIGI) for crypto assets as the common identifier for the integration.

Bloomberg Terminal integrated CME Group’s FX Link

Last year, CME Group announced a new market data and order entry functionality for FX Link, available on the Bloomberg Terminal.

The integration was meant to allow market participants to access pricing, liquidity, and trading for FX swaps in G5 currency pairs.

Providing mutual clients with access to new FX futures contracts through Bloomberg’s ISV, Tradebook, also strengthens FX Link’s position as a cleared and capital efficient central limit order book for FX swaps, which leverages existing OTC and futures workflows. A larger group of market participants are able to view and execute FX Link’s firm liquidity pool.

Read this next

Digital Assets

OneCoin founder Ruja Ignatova is selling penthouse in UK

OneCoin founder Ruja Ignatova, who steered one of the world’s biggest cryptocurrency frauds, is back into the spotlight more than five years after vanishing from the public eye.

Digital Assets

Bitpay taps MoonPay to offer access to +60 cryptocurrencies

Crypto payment service provider Bitpay said it’s partnering with exchange and web3 infrastructure provider MoonPay to provide its users with easier access to buy cryptocurrency instantly.

Digital Assets

New York investigates Gemini over FDIC insurance claims

New York regulators are investigating Gemini over “false and misleading” claims the Winklevoss-owned exchange had made about whether client funds are insured by the government.

Digital Assets

Binance launches Mastercard-backed crypto card in Brazil

In partnership with Mastercard, crypto giant Binance is launching its pre-paid card offering cryptocurrency “rewards” on customers’ purchases.

Digital Assets

Circle publishes a breakdown of USDC reserves for December

Boston-based stablecoin issuer Circle has revealed a breakdown of its reserves for December 2022, as well as a complete list of USDC reserve custodians.

Retail FX

Monex reports lower revenues as crypto downturn bites

Monex Group has reported its Q3 2022 financial metrics, which saw a reversal in terms of its revenues as TradeStation was grappling with a crypto market crash that has tanked the profitability of its crypto business.

Inside View

Broadridge report finds 27% of firms’ overall IT budget goes to digital transformation

“A new chapter in digital transformation is emerging. In our work with clients across the financial services industry we see leading firms are already reaping the benefits from digitalization and the use of technologies such as AI and blockchain/DLT, as they adapt to economic headwinds and new competitive dynamics”

Executive Moves

Ripple announces Monica Long as President

“I’m incredibly honored to take on the role of President at Ripple as we expand deeper into crypto-enabled services like liquidity, settlement and custody.”

Executive Moves

Arabesque AI appoints Carolina Minio Paluello as CEO

“Arabesque AI is uniquely positioned to service the asset management industry’s need to meet the growing market demand for hyper customised portfolios.”

<