Bloomberg announces the completion of the first trade using its newly launched US Treasury (UST) Dealer Algos.
This first-to-market solution provides buy-side clients with broader access to liquidity that has traditionally been available only on dealer-to-dealer trading platforms. The first transaction was executed between Morgan Stanley and a buy-side firm. The initiative is also supported by Citigroup, JP Morgan, and RBC Capital Markets, with additional dealers expected to join in 2025.
The UST Dealer Algos solution allows buy-side firms to leverage dealer algorithmic trading strategies via Bloomberg’s Fixed Income Trading (FIT) platform, enabling the execution of larger trades at tighter spreads with reduced market impact. Clients can monitor their orders in real-time and adjust execution parameters using Bloomberg’s BLOT <GO> and TSOX <GO> interfaces. The solution is seamlessly integrated with Bloomberg AIM and Bloomberg TOMS, providing further efficiencies for existing Bloomberg clients.
Bloomberg has been reached for further comment
Morgan Stanley, Citi, and RBC Capital Markets have expressed their commitment to providing enhanced electronic trading tools through this initiative.
“Expanding our client offering through UST Dealer Algos aligns with the natural evolution of the markets, enabling us to meet client needs by delivering greater efficiency in executing U.S. Treasuries,” said Adam Peralta, Head of U.S. Rates E-Trading at Morgan Stanley. “We are committed to meeting our clients’ needs while staying at the forefront of technological developments in the U.S. Treasury markets.”
In addition to UST Dealer Algos, Bloomberg has recently launched FitStreams, a US treasuries’ trading solution that allows clients to view and execute trades on multiple custom, bilateral prices per instrument. This approach minimises information leakage by ensuring that only the selected dealer receives the trade request, significantly reducing market impact.
Bloomberg’s Electronic Trading Solutions (ETS) serves over 9,000 client firms and connects with 1,500 dealers globally, providing market participants with access to deep liquidity, transparency, automation, and execution capabilities across more than 175 markets worldwide.
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