04 Apr 2019 Bloomberg Plans to Exit SSEOMS, KYC Business Lines

Sources say that this will allow the information giant to focus on more valuable business lines.

Bloomberg is intending to exit two key lines of business in the coming months: its Sell-Side Execution and Order Management Solutions (SSEOMS) unit and its Know-Your-Customer (KYC) business, which includes Entity Exchange and Entity Intelligence, WatersTechnology has learned.

A spokesperson for Bloomberg confirmed that it intends to exit both lines but could not go into details about its exact plans.

The information giant does not have plans to exit any other business lines, such as its multi-asset, sell-side focused Trade Order Management Solutions (TOMS) unit or its Asset and Investment Management (AIM) buy-side OMS.