Oklahoma State Treasurer Todd Russ’ office recently completed a transition from a 17-year-old proprietary bond trading platform to the Bloomberg Trading Terminal, the most up to date investment platform.
“I am excited to have my office completely transitioned from an antiquated trading platform to Bloomberg. This important step allows our investments to compete in a broader financial market more efficiently and safely, which ultimately provides a better return on investments for the people of Oklahoma,” Russ said. “Since we began with Bloomberg on January 17, we have been able to execute 26 trades totaling $650 million.”
According to the Bloomberg Professional Services Division, the Terminal is the most powerful, flexible platform for financial professionals who need real-time data, news, and analytics. Bloomberg is a leader in the trading industry across the world.
“This transition provides an advanced opportunity for taxpayer dollars to yield a higher return with more diverse trading opportunities. I am excited to see how modernizing our tools will play out in the future as we continue to improve on the technology and investments for the state of Oklahoma,” Russ said.
Lisa Murray, chief investment officer, said she was glad the Treasurer’s Office made the switch.
“For the first time since I’ve been serving in this role, we purchased a significant amount of government bonds for an excellent price and immediately received offers from all of our brokers. A notable improvement from our last platform and one I’m excited to be a part of.”
Source: press release