Bloomberg has released a new analytics hosting service for algorithmic orders on FXGO, with Goldman Sachs being the first liquidity provider to use it.
The new algorithmic order service is available on FXGO’s execution manager, a Bloomberg Launchpad function that allows clients to manage their incoming orders and subsequently route them to liquidity providers.
The technology integrates Bloomberg’s FX execution and straight–through processing (STP) tools with Goldman Sachs’ pre-trade, in-flight and post-trade analytics. It then offers insights into the algorithmic order execution to the global community of Goldman Sachs clients who leverage the Bloomberg Terminal for execution.
In a release issued today, Bloomberg says that any liquidity provider globally can use this service.
“Expanding Bloomberg’s electronic trading solution FXGO to offer a new algo analytics framework allows us to give the FX community real-time access to the bank’s view of liquidity and order execution. This brings new levels of market transparency and trading efficiency to our clients in the dynamic and evolving space of algo execution,” says Tod Van Name, Bloomberg’s global head of FX electronic trading.
Damien Vanderwilt, global head of Goldman Sachs FICC execution services, says: “Being the first to offer real-time algorithmic order analytics on Bloomberg, we are transforming the entire order execution experience. These proprietary tools make the execution process more efficient, and give our clients the latest technology to guide their execution inside their existing execution management system. We want to deliver best-in-class execution tools wherever our clients prefer to use them.”