National Bank of Bahrain picks Bloomberg risk management tech
The National Bank of Bahrain (NBB) has selected Bloomberg’s Trade Order Management System (TOMS) and Multi-Asset Risk System (MARS) solutions.
NBB is the first bank in the Gulf Cooperation Council (GCC) region to pick Bloomberg’s trade solutions.
TOMS provides sell-side firms with electronic trading tools and market connectivity. It also provides services for inventory, risk, and straight-through processing.
MARS is powered by Bloomberg’s pricing library, market and reference data, and mortgage cash flow engine.
Bloomberg claims NBB can manage risk and “ensure data consistency in real-time”.
Jaffar Hussain, head of liquidity and market risk at NBB, says automation is a high priority for his bank.
He adds that the new systems have increased efficiencies and allowed NBB to “better focus our efforts and resources into what matters to our customers”.
Founded in 1957, NBB was the first indigenous bank in the country. Providing retail, investment and corporate banking, it operates 25 branches and 61 ATMs.
“To be competitive, traders need real-time access to correct trading and risk data, and portfolio representations,” says Phil McCabe, global head of sell-side solutions at Bloomberg.
“The combination of Bloomberg’s TOMS and MARS allows traders and sales to immediately assess the real impact of a trade on the risk profile of the bank’s books or the client’s portfolios, running the same calculations used by the risk management team.”