JERSEY CITY, NJ, February 10, 2003 â Financial Sciences Corporation, Inc., a leading developer of enterprise financial systems, today announced that it has expanded its electronic trading processing partnership with Bloomberg, LP, the information services, news and media company, to include automated delivery of published commercial paper issuance offering rates.
"By automating electronic delivery of commercial paper offering rates, issuers have a complete straight through processing solution," said Pam Ely, Product Manager Direct Issuer Commercial Paper electronic trading platform for Bloomberg. "This has helped fuel our incredible growth in direct issuance commercial paper trading."
Rates are delivered electronically from ATOM Money Market Trading to Bloomberg for listing on Bloombergâs DOCP page. ATOM Money Market Trading is Financial Sciences Corporationâs comprehensive system that supports the specialized processing needs of large direct issuers of commercial paper and other money market securities. The system includes a direct connection to Bloomberg that allows for the secure entry of commercial paper purchase requests by end investors.
"As one of the early providers of software solutions to the commercial paper market, we have unparalleled experience in this area," said Alf Newlin, Managing Director of Financial Sciences Corporation. "Our work with Bloomberg demonstrates our continued commitment to the commercial paper market, to enhancing our capabilities in electronic trading and to direct issuance automation."
Financial Sciences Corporation has been working with Bloomberg, LP since 1996. The company was the first to implement a straight through processing connection with Bloomberg for electronic trade execution for direct issuers of commercial paper.