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Bloomberg In, Spear, Leeds Out In Order Management Business

Traders Magazine, July 2000

Peter Chapman

Building a trade order management system for demanding Nasdaq traders has never been easy. But Bloomberg is giving it a go while the Eagle Software division of Spear, Leeds & Kellogg has temporarily exited the business.

Bloomberg has a limited presence in Nasdaq trading rooms, but hopes to change that when it introduces order management functionality this summer to its ubiquitous terminal. Bloomberg is working with eight broker dealers to develop the trading product. This pits it against leading vendor, SunGard Trading Systems with its BRASS system, as well as such firms as OM Technology and Royal Blue. Nasdaq will soon be a competitor with its Nasdaq Tools product.

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