Key Features of LQA Market Liquidity Evaluation LQA estimates liquidation costs and horizons at the position level under current market conditions and stress scenarios. This is consistent with guidelines such as ESMA’s Liquidity Stress Testing.

Daily Liquidity Changes The system assesses daily changes in liquidity based on evolving market conditions.

Cross-Asset Comparison LQA allows for the comparison of liquidity analytics across various asset classes using consistent output.

Customizable Models Users can customize model parameters to create firm-specific views, scenario analyses, and stress tests.

Global Coverage Bloomberg’s liquidity analytics cover over 4.2 million securities globally, including - Government bonds - Corporate bonds - Municipal bonds - Secondary market loans - Equities - ETFs - Securitized products (ABS/MBS) - TBAs - Listed derivatives

Regulatory Compliance LQA helps firms meet global market liquidity guidelines and mandates, such as: - Europe: ESMA’s Liquidity Stress Testing guidelines, AIFMD, and UCITS. - U.S.: SEC rule 22e-4 for mutual funds and ETFs, and SEC rule 6c11 for ETFs. - Asia: Guidelines from the Japanese FSA, SFC (Hong Kong), MAS (Singapore), and ASIC (Australia). - Global: IOSCO guidelines for Liquidity Risk Management frameworks.

Benefits Risk Management Enhances the ability to manage liquidity risk and investment processes.

Operational Efficiency Improves efficiency by integrating liquidity assessment into the full trade lifecycle.

Regulatory Compliance Ensures adherence to regulatory requirements through comprehensive reporting and analytics.

Bloomberg’s LQA provides a reliable and consistent approach to liquidity measurement, helping firms manage risk and comply with regulatory standards effectively.