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 (DMA) 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] Bloomberg Tradebook had been led by Chief Executive Officer Glenn Lesko from March 2015 to March 2017. [7] The chief executive and president of Bloomberg's agency brokerage business has left the firm after little more than two years. Glenn Lesko's final day at Bloomberg Tradebook was on March 22. [8]

There is speculation in the market that the institutional brokerage and agency execution arm of media conglomerate Bloomberg is either throttling back or closing down. The talk comes on the heels of recent departures of Glenn Lesko, CEO and president of Tradebook, and Ray Tierney, global head of trading solutions. Both were long-time Tradebook employees and senior capos. Tierney was also CEO and President of Tradebook from 2010 to 2015 – only to be replaced by Lesko. [9]

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.[10]

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.[11]

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.[12]

Awards

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.[20]

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. 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. ↑ "Trouble at Tradebook?". Markets Media. Retrieved 29 March 2017.
  10. ↑ Akasie, Jay (3 November 2011). "Who Provides the Lowest Transaction Costs?". Institutional Investor. Retrieved 25 September 2013.
  11. ↑ "Getting the Execution Edge". Automated Trader. Retrieved 18 October 2013.
  12. ↑ "Execution consulting - up close and personal". FTSE Global Markets. 19 April 2012. Retrieved 18 October 2013.
  13. ↑ "Announcing the 2016 Markets Choice Award Winners… - Markets Media". Markets Media. Retrieved 2016-02-29.
  14. ↑ "HFM European Technology Awards 2015 - categories and shortlist". www.eiseverywhere.com. Retrieved 2016-02-29.
  15. ↑ "Buy-Side Technology Awards 2015 - All the Winners". http://www.waterstechnology.com. Retrieved 2016-02-29. External link in |website= (help)
  16. ↑ "Winners". www.eiseverywhere.com. Retrieved 2016-02-29.
  17. ↑ "The 2015 Markets Choice Awards - Markets Media". Markets Media. Retrieved 2016-02-29.
  18. ↑ "Leaders in Trading awards winners announced". www.thetradenews.com. Retrieved 2016-02-29.
  19. ↑ "Waters Rankings 2015 — All the Winners and Why They Won". http://www.waterstechnology.com. Retrieved 2016-02-29. External link in |website= (help)
  20. ↑ "Bloomberg adds seven independent research providers". The Trade. 11 May 2011. Retrieved 18 October 2013.
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