FirstBank UK Limited, the UK subsidiary of First Bank Nigeria Limited, has announced the adoption of Bloomberg’s Trade Order Management System (TOMS) to enhance its fixed income workflow. This strategic integration aims to provide FirstBank UK with a comprehensive suite of data and analytics, communication tools, as well as order and execution management solutions, streamlining its operations in the fixed income bonds business.
As a niche market-maker for its clients in Africa, FirstBank UK plays a pivotal role in providing market liquidity in cash bonds, primarily dealing with Nigerian, Angolan, Egyptian, and Ghanaian Eurobonds to manage risk and optimize inventory. TOMS will offer the trading desk at FirstBank UK insights into positions, profit and loss (P&L), and risks, thereby empowering them to better support clients.
Olukorede Adenowo, CEO-designate at FirstBank UK, expressed enthusiasm about the integration, stating, “Bloomberg TOMS provides FirstBank UK with a complete end-to-end trading workflow covering African bonds in most of our home markets. The solution enables us to focus on expanding our footprint in the African Fixed Income landscape and deliver a first-in-kind service to our customers in Africa.”
Lisa Bravo, Global Head of Sell-Side OMS at Bloomberg, highlighted the operational efficiency TOMS brings, saying,
“By integrating with our existing systems, Bloomberg TOMS provides FirstBank UK with a complete end-to-end trading workflow covering African bonds in most of our home markets,” said Olukorede Adenowo, CEO-designate at FirstBank UK.“ The solution enables us to focus on expanding our footprint in the African Fixed Income landscape and deliver a first-in-kind service to our customers in Africa.”
“We are pleased to help FirstBank UK enhance operational efficiency across its enterprise with our award-winning sell-side order management solution TOMS,” said Lisa Bravo, Global Head of Sell-Side OMS at Bloomberg. “TOMS empowers firms to create a seamless workflow from their front and middle-office, through to their operations and enterprise applications, while concurrently delivering their front office users with real-time execution, risk and P&L analytics.”
In addition to the adoption of TOMS, FirstBank UK has further digitized its order management workflow by offering clients access to liquidity on its Eurobond Single-Dealer Platform. This platform, integrated with Bloomberg TOMS, centralizes order handling and aggregated custom analytics and liquidity tools within a single interface, enhancing the overall trading experience for customers.
Robert Hagenaars, Head of Markets at FirstBank UK, emphasized the uniqueness of their offering, stating, “The integration of TOMS with our custom-built electronic trading platform allows our customers real-time access to liquidity in our markets, something unique to the majority of our customers.”
This move underscores FirstBank UK’s commitment to leveraging advanced technology solutions to optimize its financial services and contribute to the growth of the African financial landscape.
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FirstBank UK is the international banking arm of First Bank of Nigeria Limited, offering capital markets, corporate, institutional, and private banking services to promote investment and trade in Africa. As a licensed bank in the United Kingdom, authorized by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority (FCA) and the PRA, FirstBank UK plays a significant role in facilitating financial services between the UK and Africa. For more information, visit [
www.fbnbank.co.uk](
https://www.fbnbank.co.uk).
Established in 1894, First Bank of Nigeria Limited is the premier bank in West Africa and a leading financial inclusion service provider in Africa. With over 750 business locations and 215,538 Banking Agents spread across 99% of the 774 Local Government Areas in Nigeria, FirstBank provides comprehensive retail and corporate financial services to serve its over 42 million customers. The Bank has an international presence with subsidiaries operating in 9 other countries. For more information, visit [
www.firstbanknigeria.com](
https://www.firstbanknigeria.com).