04 September 2015

Bloomberg unveils FX option trading tech

15 November 2012  |  961 views  |  0 Source: Bloomberg

Bloomberg executives today unveiled a new feature that enables clients to trade foreign exchange (FX) options through Bloomberg's multi-bank trading platform, FXGO.

Through the request-for-quote (RFQ) system, market participants can simultaneously request and consolidate pricing from multiple providers for any currency option.

Bloomberg's FX option solution provides buy-side firms, corporate treasuries and other institutions tools to obtain multiple prices before executing a trade, facilitating a seamless transition to the regulated environment anticipated under new derivatives legislation.

"Regulation is accelerating changes in the FX marketplace and clients want ready-made, sophisticated features to help them meet the latest requirements," said Tod Van Name, Bloomberg's Global Head of Foreign Exchange, Economics and Commodities. "We make it a priority to provide our clients transparency, deep liquidity and trading efficiencies in today's increasingly complex marketplace."

Bloomberg subscribers' quote requests can be priced via automated bank pricing engines or manually quoted by more than 230 liquidity providers, enabling market participants to trade with major and local market makers with no additional costs to buy or sell-side firms. Bloomberg's options RFQ system supports all common and many exotic strategies in any currency pair.

"Credit Suisse is pleased to be one of the first banks to provide competitive automated FX options quotes through Bloomberg's new service," said Joerg Schmuecker, global head of FX options e-commerce at Credit Suisse. "It is clearly going to be important for end-users of these markets to have access to multiple-bank trading systems as new regulations designed to achieve best execution are introduced."

The FX option technology is integrated with Bloomberg FXGO, connecting more than 5,400 market participants across 100 countries to liquidity providers on the system. Average daily volume on FXGO, which includes spot, outright, non-deliverable forwards (NDFs), swaps and deposit trades, has increased 79% year-to-date. 

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Related blogs

Create a blog about this story (membership required)

Who is commenting?

Finextra Member Commented on: HSBC to rebrand Britsh...
Finextra Member Commented on: Zapp to use behavioura...

Top topics

Most viewed Most shared
Third of Brits expect day-to-day mobile pa...
8523 views comments | 40 tweets | 15 linkedin
UK boosts contactless limit to £30
5821 views comments | 31 tweets | 20 linkedin
PayPal rolls out personalised URLs for P2P...
5813 views comments | 34 tweets | 19 linkedin
Behold the contactless jacket
5615 views comments | 23 tweets | 18 linkedin
MasterCard extends startup search globally
5221 views comments | 14 tweets | 5 linkedin

Featured job

£90-110K Basic Circa £200-250K OTE NO CEILING
London

Find your next job