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Take productivity to new heights

Enforce best execution policy

Rule Builder can take an order and convert it to a trade injust over one second — with zero mouse clicks. This can bea boon during busy times such as month-end rebalancing.
As you automate your odd-lot flow, you can spend more timeon larger, complex orders where you can generate greater
execution alpha for your clients.

RBLD ensures that your policy is always adhered to —no exceptions. Customization settings enable you toset different policies for different market segments,
reflecting the liquidity and market conditions of thesectors you’re trading in.

Optimize dealer selection
Systematically use real-time and historical performance data
to decide which dealers receive your RFQ. This eliminates
the risk of human bias coming into the equation and enables
you to reward dealers for good performance based on yourdefinition of “good.”

Creating a rule

4 steps to zero-touch trading
RBLD Rule

Step 1

Step 2

Step 3

Decide which
orders you want
to automate.

Decide how
dealers should
be selected.

Define yourbest execution
policy.

Step 4Decide how
automation
should work.

FITBloomberg Rule Builder, RBLD <GO> enables fixed income execution traders to create rules that facilitate fully
automated trading on Bloomberg venues through our Fixed Income Execution Management System, TSOX <GO>.

Electronic Trading Solutions

Significantly increase
your productivity with
Bloomberg Rule Builder.

Significantly increase your productivity with Bloomberg Rule Builder

Step 1
Decide which orders from your TSOX are eligible for automation. Aside from a rich array of security
classification criteria, you are able to bring in value-add indicators such as BVAL and LQA scores
to use as measures for liquidity.

RBLD <GO> — Examples of credit and government bond rules

Step 2Once you have defined the universe of orders eligible for automation, you need to instruct
Rule Builder on how it should select dealers to put in competition on the RFQ. RBLD will always
respect any hard-coded include/exclude instructions for dealers that you may have set in your OMS.
It will also respect any configurations you have with Bloomberg’s FI Buyside Compliance Manager,
ETPA <GO> or LEIA <GO>, our new LEI Trading Permissions function for dealer eligibility. Beyond
that you can define how the dealers should be prioritized based on a number of real-time criteria.

RBLD <GO> — Dealer selection

Significantly increase your productivity with Bloomberg Rule Builder

Step 3The next task is defining the execution instructions. These conditions are applied to dealer
responses in real time and, if met, will result in a trade. You can use Bloomberg’s industrystandard reference pricing sources for best quote evaluation as well as a limit price if provided.
1. Price / Yield
2. CBBT/BGN /BMARK
3. Side/Mid/Close
4. % / BP
123

4

RBLD <GO> — Execution instructions

Step 4
The final step is to define the action associated with the rule. You can elect to have automation
work without any trader intervention (Route automatically) or ask it to prompt you for confirmation
upon matching (Route upon confirmation). Additionally, it is worth noting that you can use RBLD
for alerting only (Do not route).

RBLD <GO> — Autorouting logic

Always stay in control
The Automation Dashboard shows all orders that have been submitted for automatic execution.
This component can sit beneath your TSOX blotter to provide full transparency and control over
the automation life cycle. From here you can confirm an automation route via the one-click button,
see what rule was invoked, the status of an in-flight automated order and use the kill switch to turnoff all RBLD rules if you wish.

RBLD <GO> — Automation dashboard

Take the next step.

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