JP Morgan Securities Services and Bloomberg have announced a collaboration that sees the latter’s AIM order management system deployed at the bank.
Bloomberg AIM will provide a “seamless” real-time settlement process at JP Morgan
The combination will provide a “seamless and fully integrates real-time settlement process” according to the two firms, and is available immediately to buy-side clients.
Bloomberg AIM is Bloomberg’s buy-side order management system (OMS), which the technology firm claims is used by nearly 14,000 professionals at more than 850 client firms
The deal with JP Morgan is the first of a series of ongoing front-to-back integrations between the two firms.
“One of the hardest challenges to solve in the streamlining of buy-side processes is interoperability with Securities Services providers,” says Naveen TV, managing director at JP Morgan Securities Services.
“This integration allows clients to reside within Bloomberg AIM and use JP Morgan as an extension of their operations through sharing of enriched transaction data sets and operational workflow.”
Ian Peckett, Bloomberg’s global head of buy-side product, says that optimising the operating model is a critical objective for clients.
He adds: “Our priority remains enabling the entire investment process and we will continue to provide clients with connectivity to leading service providers like JP Morgan to help them reduce workflow fragmentation, manage complexity, and scale their businesses.”
Related: JP Morgan to deploy Calastone tech for automated settlement
