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Indosuez Wealth Management becomes first bank to automate ETF trading with Bloomberg Rule Builder

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Indosuez Wealth Management, the global wealth management brand of Crédit Agricole Group, has adopted Bloomberg’s Rule Builder to enhance the bank’s operational efficiency across the ETF trading desks.

Following a pilot-testing period with Bloomberg, Indosuez Wealth Management is the first customer to adopt Bloomberg’s powerful Rule Builder for ETFs, which facilitates automated trading via its RFQe solution. Rule Builder helps traders automate vanilla low touch trades and administrative tasks, freeing up their time to focus on complex, high touch trades and strategic decision-making. Also available for fixed income, FX, equities and futures, Rule Builder is part of Bloomberg’s suite of automation tools that help firms boost their productivity.

Cyrille Nahabedian, Head of Capital Markets Solutions of Indosuez Wealth Management, says: “The ongoing enhancement of services for the benefit of our clients is one of our biggest priorities. There are clear benefits to automating ETF trading, as this type of operation is highly requested by our customers and part of our daily activities. Since using Rule Builder, we have seen a significant increase in order flow, as well as a marked improvement in the quality of trade execution. To adapt the tool to our specific needs and those of our clients, an important step has been to work together with Bloomberg as they built the Rule Builder functionality. We are proud to be the first bank to benefit from this new service.”

Ravi Sawhney, Global head of trade automation and analytics at Bloomberg, says: “We are focused on increasing efficiency across the trading workflow, and are pleased that Indosuez Wealth Management is benefitting from using Rule Builder. The strength of our solution is that it allows firms to deploy automation quickly and easily, by writing automation rules directly on the Bloomberg Terminal resulting in seamless trade execution on our systems, which alleviates the need to integrate the technology into their own in-house systems.”

Indosuez Wealth Management already uses Bloomberg’s equities execution management system, EMSX, and BTCA, Bloomberg’s transaction cost analysis solution.

Bloomberg’s Rule Builder is a trade automation solution for fixed income, FX and ETFs, equities and futures. The product will allow Indosuez traders to use a no-code solution to break down incoming order flow into ‘high’ and ‘low’ touch, where traders can set rules for low touch orders to be executed on Bloomberg venues without additional manual intervention. In addition, Rule Builder uses real-time and historical analytics to help traders more systematically decide which dealers receive RFQs and at what level to execute against, helping to ensure compliance with Indosuez’s best execution policies. Rule Builder’s settings can now be analysed in BTCA to enable traders to evaluate and optimise their performance even further.

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