Bloomberg and DirectBooks have launched an integration that automates primary bond market workflows, enabling institutional investors to manage orders and allocations electronically rather than through manual processes.

The collaboration connects DirectBooks with TSOX, Bloomberg’s fixed income execution management system, allowing clients to route orders directly into syndicate orderbooks and receive allocation messages back electronically. The system supports straight-through processing, with allocations booked directly into order management systems.

Primary markets, where new bonds are issued and distributed to investors through underwriters, have traditionally relied on manual processes that create operational and compliance risks. The new workflow provides an auditable electronic trail and real-time position management.

Bloomberg’s AIM order management clients will automatically receive new bond details as they become available on the Terminal, enabling portfolio analysis and compliance checks without additional setup.

DirectBooks, which launched in late 2020, now has 48 underwriters on its platform covering investment grade, emerging markets, sovereigns, supranationals, agencies and high yield issuance. Its investor community exceeds 1,000 accounts, including asset managers, pension funds, insurance companies, family offices and sovereign entities.