Bloomberg and Clearwater Analytics Innovate Investment Management with Strategic Partnership

Bloomberg and Clearwater Analytics Innovate Investment Management with Strategic Partnership



In an era marked by rapid financial advancements, Bloomberg and Clearwater Analytics have announced a strategic alliance aimed at revolutionizing investment management. This partnership focuses on delivering an integrated solution that covers the entire investment process—from front to back. By employing an open and modular approach, the collaboration sets out to provide asset owners and managers with a robust framework that enhances operational efficiency and adaptability.

The forthcoming solution is designed to empower clients with superior modular capabilities, thereby streamlining their investment management practices. The incorporation of Bloomberg's extensive suite of solutions alongside Clearwater's accounting prowess creates a comprehensive offering that helps clients to effectively manage costs while minimizing associated risks. Key enhancements included in this collaboration are:

1. Turnkey Managed Integration - This includes a newly defined operating model that can evolve as the investment landscape transforms, allowing users to stay ahead of industry shifts.
2. Enhanced Over-the-Counter (OTC) Management - Utilizing Bloomberg’s advanced tools, clients will experience improved creation and management processes for OTC securities, making transactions smoother.
3. Integrated Cash Management - This feature ensures transactions are synchronized daily, fostering transparency and consistency in cash flows.
4. Consistent Data Exchanges - Clients will benefit from a cohesive system that supports data consistency and lineage, facilitating seamless data transfers between platforms.

The synergy of both companies leverages Bloomberg's leading enterprise solutions, covering various aspects such as research management, order processing, and performance analytics, along with Clearwater's established reputation in accounting, data aggregation, reconciliation, and reporting. This collaboration stands as a testament to both brands' commitment to address the evolving needs of the investment management sector.

Mark Flatman, the Global Head of Enterprise Products at Bloomberg, emphasizes the need for an effective technology partner, stating, "Today, investment managers frequently find themselves in a position where they either rely on a single vendor that doesn't cover all their needs or they juggle multiple vendor relationships that can complicate their operations. Our partnership with Clearwater marries their top-tier accounting solutions with our investment workflows to provide a more streamlined front-to-back operational journey."

On the other hand, Shane Akeroyd, Chief Strategy Officer at Clearwater Analytics, asserts the independent nature of their platform, which allows clients the freedom to choose the best partners according to their requirements. “This collaboration exemplifies how we integrate trusted accounting with advanced front-office workflows, aiming to simplify our clients' experiences and promote accurate decision-making,” Akeroyd adds.

Clearwater Analytics is renowned for its innovative cloud-native platform that serves institutional investors across worldwide public and private markets. As they work to eliminate the risks, inefficiencies, and disruptions tied to outdated systems, their architecture assures real-time data and AI-driven insights, mitigating information silos stemming from fragmented management functions.

Likewise, Bloomberg continues its mission as a global leader in financial information and data, committed to fostering transparency and efficiency in financial transactions. The coalescing of these two giants not only optimizes their existing workflows but also equips firms in the buy-side industry with the continuity and innovation necessary for success amid a constantly shifting market landscape.

As both firms gear up for this significant collaboration, it's clear that their joint efforts will produce an innovative investment management solution poised to address the pressing challenges faced by asset managers today. Stakeholders in the financial sector are encouraged to stay tuned as this partnership unfolds, potentially setting new benchmarks in investment management practices.

Topics Financial Services & Investing)

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