26 July 2016
Find out more

Bloomberg unveils FX option trading tech

15 November 2012  |  1025 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)

Related blogs

Create a blog about this story (membership required)
Visit www.abe-eba.euVisit VocaLink.comFind out more

Who is commenting?

Top topics

Most viewed Most shared
MasterCard agrees £700m VocaLink acquisitionMasterCard agrees £700m VocaLink acqu...
9086 views 14 comments | 32 tweets | 37 linkedin
satelliteContactless Bitcoin startup Plutus Tap &am...
9059 views comments | 9 tweets | 4 linkedin
hands typing furiouslyBanking on IoT: Security in the Internet o...
8717 views 3 | 21 tweets | 7 linkedin
Apps crush internet for UK banking loginsApps crush internet for UK banking logins
7460 views comments | 17 tweets | 25 linkedin
Thomson Reuters and Imperial College form fintech and regtech research partnershipThomson Reuters and Imperial College form...
5835 views comments | 29 tweets | 16 linkedin

Featured job


Brussels (Belgium) or Paris (France)

Find your next job