NBB adopts Bloomberg solutions

MANAMA: The National Bank of Bahrain (NBB) is the first GCC-based bank to adopt Bloomberg’s comprehensive and integrated trade order management and risk management solutions.

Bloomberg’s Trade Order Management System (TOMS) and Multi-Asset Risk System (MARS) solutions allow banks to manage orders and risk and ensure data consistency in real-time across the front and middle offices, all from a single platform.

NBB’s head of liquidity and market risk Jaffar Hussain said: “At NBB, automation is one of our highest priorities, as is continuously improving our risk controls in line with global best practice. The suite of Bloomberg tools we’ve adopted has not only supported us in achieving this, but we’ve increased efficiencies, ultimately allowing us to better focus our efforts and resources into what matters to our customers.”

Risk practitioners and regulators alike have been stressing the need to break down silos between front and middle office risk, end-of-day and intraday risk data and modelling, for over a decade.

With firms often using different front office solutions for different asset classes, reconciliation with risk models is even more complex.

Commenting on the partnership, Bloomberg’s Middle East and Africa Financial Products regional manager Benjamin Grolimund said, “We are pleased that NBB has chosen Bloomberg as a technology partner in a number of key areas. Our trading and risk solutions are used by professionals across the globe to analyse their trading and investment portfolios, manage and mitigate their exposure and ready themselves for any turn of events, something we’ve seen key players in the Middle East, such as NBB, show increased interest in.”



Source:  http://www.gdnonline.com/Details/838112/NBB-adopts-Bloomberg-solutions


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