Sumitomo Mitsui Trust Asset Management has adopted Bloomberg Rule Builder (RBLD), a multi-asset, rules-based trade automation tool, to try and enhance the efficiency and productivity of Sumitomo Mitsui Trust Asset Management’s trading services for foreign exchange and fixed income trading.
Sumitomo Mitsui Trust Asset Management is one of the largest asset managers in Japan and Asia, with ¥87.0667 trillion (US$590 billion) in assets under management.
Sumitomo Mitsui Trust Asset Management will use Rule Builder through Bloomberg’s Fixed Income and Derivatives Execution Management System (TSOX) and FXGO, the multi-bank FX trading system. By enabling traders to execute orders according to their pre-established rules, the tool is intended to facilitate smooth and optimal execution with the trader managing its timing.
“In the world of over-the-counter trading, executing a large number of orders with limited staff takes time,” said Yosuke Hosokawa, deputy general manager of the trading department at Sumitomo Mitsui Trust Asset Management. “With the automation of sell-side pricing progressing further ahead, we have been considering the possibility of reducing timing risk by also automating buy-side execution. By using Bloomberg Rule Builder (RBLD), it’s become possible to automate the execution of purchases at desired times, resulting in significant cost savings. In addition, the process of setting Rule Builder parameters has made the overall execution process more transparent. The insights gained through this increased transparency are then reflected in these parameters as part of a cycle that enables further improvement of the execution process by a trader. As such, investors will be pleased to know that we are achieving quality performance under optimal execution policies and that there is a rigorous process in place.”
“Bloomberg has helped to accelerate many of our customers’ digital transformation and improved the operational efficiency through integration of high value-added data and innovative technology,” said Norman Tweeboom, Japan regional head at Bloomberg. “We hope that the favourable cycle generated by the sophisticated execution facilitation process will lead to increased market transparency and continued development of sound investment practices as a result.”
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