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Calling the integration a way to provide cutting-edge capabilities for its clients, Elwood said that it was pleased to deliver its services to Bloomberg AIM.
Elwood Technologies, a company that provides access to some of the top crypto trading and liquidity platforms, has recently disclosed a strategic unification with Bloomberg.
In an announcement made on Thursday, the crypto-based technology company run by hedge fund bigwig Alan Howard, formally revealed its plan to partner with Bloomberg. According to some of the information disseminated into the media, the integration is directed towards the institutional customers who utilize the Bloomberg Asset and Management Investment Manager, also known as the AIM. The AIM is a buy-side order management system employed by around 15,000 customers who, all together, operate and look after more than seventeen trillion US Dollars in assets. The main objective of this collaboration is to partner with Bloomberg’s AIM and offer services via Elwood’s trading platform.
In an official statement, Elwood explained that this partnership blended in Elwood’s institutional cryptocurrency trading abilities with Bloomberg’s data, analytics, and workflow tools. The merger will allow several financial establishments and investment managers on the AIM platform to identify and operate over crypto investments along with the other part of their portfolio to steer towards a cooperative investment procedure. Calling the integration a way to provide cutting-edge capabilities for its clients, Elwood said that it was pleased to deliver its services to Bloomberg AIM
In a statement by Ian Peckett, Bloomberg’s Global Head of Buy-Side Product said that the high demand for an integrated threshold to work around managing investment portfolios led to the partnership between the two companies. The services also consist of alternative asset classes like cryptocurrencies.
The actual incorporation is all set to finish off and be available for utilization by the second quarter of 2022. It will be available for joint utilization to both Elwood and Bloomberg AIM customers.
According to a statement by the Chief Executive Officer of Elwood technologies, James Stickland acknowledged the integration by saying that the decisive collaboration with Bloomberg persists because of the company’s ideal to offer access to the digital asset market via a route that is acceptable to institutions. The company believes in streamlining the institutional access to cryptocurrency markets through the merger.
The unification is a massive development for the London-based organization. Since last year, the company has shifted its gear to the software business following an initial concentration on asset management. Alan Howard, the British Billionaire hedge fund manager has been a firm supporter of a number of crypto-based companies. Some of the companies backed by Howard are Copper, a company that provides custody of cryptocurrencies, and Bullish Global, an exchange operator.