Bloomberg has announced a partnership with crypto-focused technology firm Elwood Technologies to expand institutional crypto capabilities.
According to the announcement, the integration will be targeting institutional clients that use Bloomberg’s buy-side order management system, AIM.
The platform is used by more than 1,500 clients who have collective assets of more than $17 trillion. Both parties want to integrate Bloomberg’s AIM into the capabilities offered by the Elwood trading platform.
The Integration Will Offer Institutional Crypto Access
In a press statement, Elwood said the integration will combine Bloomberg’s workflow tools, analytics, and data with the institutional crypto trading capabilities of Elwood.
The aim is to enable the management of crypto investments along with their other portfolios for a unified investment process.
Global Head of Buy-Side Product, Ian Pecket, commented on the development. He stated that the company is excited about the partnership by offering clients of Bloomberg AIM access to the state-of-the-art crypto trading platform of Elwood.
Chief Executive Officer of Elwood Technologies, James Stickland, stated that the collaboration with Bloomberg will continue to “deliver its mission of providing access to digital asset markets in a way the institutions expect.”
He added that the company is excited about the opportunity to work with Bloomberg to enable simplified access to the cryptocurrency markets for institutional investors.
The Integration Will Be Completed In Q2 2022
The latest development is another highlight in a rather busy period for Elwood. The Howard-founded company moved to software business last year, after initially starting as an asset management-focused firm. Howard has also been busy in the market when it comes to lending financial backing in the cryptocurrency industry. It has already backed exchange operator Bullish Global and crypto custodian Copper.
Elwood Technologies has its operational headquarters in London as offers technology-driven solutions to financial firms, including those focused on digital asset platforms.
Bloomberg says its buy-side solutions provide a front-to-back technology for order management and decision support and order management in the investment lifecycle. The platform streamlines post-trade workflows, reducing operational risks via collateral management solutions. The integration will be completed and available for Bloomberg AIM and Elwood clients in Q2 2022, according to the announcement.