Following news last week that Refinitiv’s platforms had been granted permission to operate in Malaysia, Bloomberg has announced that its FXGO platform has also been granted approval from Bank Negara Malaysia under its new Framework for Electronic Trading Platforms. “Bloomberg has been a long-standing and dedicated partner for the Malaysian financial markets, and this approval […]
The Banco Nacional de Angola (BNA) has adopted Bloomberg’s foreign exchange electronic trading system FXGO and its electronic auction system to bring greater efficiency and transparency to Angola’s FX market. The solutions provide the BNA with real-time visibility of market activity, improving its oversight of Angola’s FX market, and enable the central bank to manage […]
INTL FCStone says its London FX desk is now a liquidity provider on Bloomberg’s FX electronic trading platform, FXGO. Joining the FXGO platform enables the firm to offer added efficiencies for market participants conducting FX trading, it says. Bloomberg’s FXGO allows service providers to contribute executable pricing across a wide range of currencies via the […]
The Bankers Association of the Philippines (BAP) and Bloomberg have announced a series of new initiatives aimed at furthering the growth of the FX market in the Philippines.
The BAP has appointed Bloomberg as the new calculation agent for the USD/PHP spot reference rate. The spot reference rate is frequently used as a benchmark by onshore and offshore banks, corporations and asset managers in the Philippines for trade execution, valuation and benchmarking of portfolios.
“We are pleased to partner with Bloomberg to provide enhanced solutions to the FX community in the Philippines,” says BAP’s managing director, Benjamin Castillo. “These new initiatives will support the Bangko Sentral ng Pilipinas’ (BSP) financial market development reforms to better organise and deepen the country’s FX market. We look forward to execution efficiency, increased market liquidity and transparency leveraging Bloomberg’s technology platform and industry best practices.”
Bloomberg is reporting growing penetration of the Indian market, with corporations such as Gas Authority of India (GAIL), Rural Electrification Corporation (REC) and ONGC Videsh (OVL) adopting its e-FX platform, FXGO.
GAIL is the largest state-owned natural gas processing and distribution company in India, REC is a leading public infrastructure finance company in India’s power sector and OVL is India’s second largest oil company.
The corporate treasury desks at GAIL, REC and OVL are using Bloomberg FXGO to analyse trade ideas, request quotes, execute, and perform post trade analysis, all on a single electronic platform.
Bloomberg has launched executable streaming non-deliverable forwards (NDFs) on FXGO, its global foreign exchange trading platform.
Standard Chartered Bank (StanChart) will be the first liquidity provider to participate. Bloomberg says that the new offering will allow the bank to contribute executable pricing across a wide range of Asian and Latin American non-deliverable currencies to meet the needs of its corporate and institutional clients.
The solution integrates Bloomberg’s FX execution and straight-through processing (STP) tools with StanChart’s liquidity. It’s designed to offer end-to-end workflow for NDF trading to the bank’s clients that wish to execute via the Bloomberg Terminal.