Bloomberg Wins Two Awards at 2023 Asia Risk Awards

Bloomberg has won LIBOR Solution of the Year and Pricing and Trading System of the Year at the prestigious 2023 Asia Risk Awards, which recognizes leading practices in risk management and derivatives within Asia’s financial sector.

In recognizing Bloomberg’s LIBOR solution, the award is an acknowledgement of the significant demand for tools to assist in the transition from LIBOR to risk-free rates. Since the transition away from LIBOR was announced in 2017, Bloomberg responded by developing and implementing a wide range of solutions to support new and existing RFR products, as well as choice and flexibility for market analysis using LIBOR or RFR based benchmarks.

“We’ve worked diligently over the past few years to develop tools, analytics and solutions that support the transition to RFRs. We understand each client’s needs are unique and have tailored our products to provide transparency, optionality and functionality,” said Benjamin Bullock, Interest Rate Derivatives Product Manager at Bloomberg. “We are thrilled our products have helped our clients smoothly navigate this migration and supported their business operations. The award is testament to the hard work of our product team – but most of all, our customers around the world – who have made our LIBOR solution what it is today.”

The second award, the Pricing and Trading System of the Year award, recognizes the strength and interoperability of Bloomberg’s suite of products. Bloomberg’s trade order management system (TOMS) and its multi-asset risk system (MARS), provide clients with an integrated position, order, execution and risk management across multiple asset classes. Integration between TOMS and MARS provides a single source of data and analytics that ensures consistency and integration firm-wide, helping sell-side traders and sales remain competitive.

“We are proud that the interoperability of our order management system TOMS with our multi-asset risk solutions MARS provides sell-side firms with real-time, flexible and intuitive market-making solutions,” said Lisa Bravo, Global Head of Sell Side OMS at Bloomberg. “As firms look to digitize and uncover operational efficiencies across the board, our offering allows banks to streamline their technology stack and serve their clients better and faster, powering them to scale up their business.”