April 3, 2015
We wish to register our support for this filing by Bloomberg with the following comments:
We have found many of our customers frustrated by the lack of competition in post-trade confirmation matching of US domestic securities. They want alternative models to be available to them in order to provide the impetus to improve customer service. Competition will also inspire service providers to improve efficiency and effectiveness of post-trade systems and services.
A key point repeatedly voiced is the operational risk of having a dependancy on a single system and process. By having multiple providers of US confirmation matching, that risk is significantly lowered.
It is vital that multiple service providers ensure the interoperability of their platforms, in order that the industry participants may choose their service providers free of any dependancy.
Regards,
David Pearson
Head of Post-trade Strategy
Fidessa