Cashwerkz has implemented an execution management solution for its new bond income business.
Cashwerkz's Bond Income has adopted Bloomberg's Trade Order Management System (TOMS) to provide trading efficiency to its wholesale investor and financial adviser clients.
TOMS will assist Bond Income with its electronic trading tools and market connectivity to streamline front office risk and trading with middle office, operations and enterprise applications in real time.
Commenting on the partnership, Cashwerkz chief executive Jon Lechte said the TOMS allows the business to focus on innovation, improvements and enhancements for clients.
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"Bloomberg's execution and order management solutions are central to us delivering a robust service to our investors, so they can act with speed, efficiency and confidence when trading bonds on our platform," he said.
Cashwerkz pivoted its business model in August with the launch of a new bond income business, offering greater access to bond and fixed income solutions for wholesale investors and financial advisers.
Bloomberg's global head of sell-side solutions Phil McCabe said: "Our fixed income heritage and deep technology expertise will support their growth and help them advance wholesale fixed income investment in Australia."
Further to the launch of Bond Income, Cashwerkz launched a funds incubator named Fund Income to support new managers entering the market.
Aspiring fund managers will leverage Cashwerkz technology, talent and infrastructure assets to establish their fund, with the business taking an equity position in each fund to create asset value for Cashwerkz.
The launch of the two solutions comes after Cashwerkz successfully completed a $5 million capital raise in May to fund the new business activities.