Brown Brothers Harriman and Bloomberg Collaborate to Develop Real-Time ETF Primary Market Workflow Solution

November 06, 2020
  • Investor Services

This is the first real-time solution that provides authorized participants a single interface for ETF order taking and negotiating ETF baskets.

New York, NY, October 28, 2020 – Bloomberg today announced a new streamlined workflow between BSKT its primary market solution for exchange traded funds (ETFs) and Brown Brothers Harriman (BBH), a market leading ETF custodian and administrator. This is the first real-time solution that provides authorized participants a single interface for ETF order taking and negotiating ETF baskets.

BSKT is a primary market solution for negotiation, ticketing and routing ETF creation and redemption transactions, and is used by ETF issuers, market makers, authorized participants, distributors, custodians and institutional investors. The collaboration between Bloomberg BSKT and BBH represents a significant advancement in market architecture that will consolidate disjointed processes across systems. The resulting integration improves workflows for authorized participants by delivering an optimized order management experience.

“We are pleased to work with BBH to bring more efficiency to the ETF primary markets by delivering a single interface that creates a seamless, quicker workflow for our clients,” said Benjamin Morris, Global Head of BSKT at Bloomberg. “The ETF market has grown tremendously over the last decade and shows no sign of slowing down. This integration enables us to continue to streamline the ETF creation process, and highlights our investment in the future stability and scalability of this market.”

“We understand the desire for APs to have access to a universal platform and pleased to collaborate with Bloomberg as they continue to advance their solutions,” said Vivian Tung, Senior Vice President at BBH. “The resulting connectivity and integration between our order-taking platform and BSKT opens the door for APs and MMs to transmit all order types through Bloomberg. We believe BSKT users will benefit from the real time communication and controls established as part of this enhancement.”

BSKT is a part of Bloomberg’s comprehensive ETF suite of products that support the entire ETF lifecycle, and are used by investors, issuers, and liquidity providers. Powerful portfolio analytics enable clients to analyze positions, historical performance and risk. Real-time data feeds and evaluated pricing on Bloomberg help track intraday ETF pricing across the liquidity spectrum.

Bloomberg subscribers can access more information via BSKT<GO> on the Bloomberg Terminal.

 

About Bloomberg

Bloomberg, the global business and financial information and news leader, gives influential decision makers a critical edge by connecting them to a dynamic network of information, people and ideas. The company’s strength – delivering data, news and analytics through innovative technology, quickly and accurately – is at the core of the Bloomberg Terminal. Bloomberg’s enterprise solutions build on the company’s core strength: leveraging technology to allow customers to access, integrate, distribute and manage data and information across organizations more efficiently and effectively. For more information, visit Bloomberg.com/company or request a demo.

 

About Brown Brothers Harriman

BBH is a privately held financial institution that has been a thought leader and solutions provider for over 200 years. The firm serves individuals, families, businesses and institutions in its three business lines: Private Banking, Investment Management, and Investor Services. BBH’s culture of accountability fosters deep and lasting relationships built on commitment, adaptability and trust. The company is independent, selective, and specialized by design. BBH operates its global business out of seventeen offices located in New York, Boston, Beijing, Charlotte, Chicago, Dublin, Grand Cayman, Hong Kong, Jersey City, Kraków, London, Luxembourg, Nashville, Philadelphia, Tokyo, Wilmington and Zürich. For more information, please visit www.bbh.com.

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