Bloomberg Tradebook Services has launched an electronic foreign exchange trading platform called BLOOMBERG TRADEBOOK FX, which it says “ushers in a new era for global FX market participants.”
BLOOMBERG TRADEBOOK FX is an electronic marketplace providing institutional traders with the ability to transact in foreign currency exchange while preserving their anonymity from other FX market participants. Users can also make use of sophisticated trading algorithms to implement trading strategies.
BLOOMBERG TRADEBOOK FX is integrated with the BLOOMBERG PROFESSIONAL service, providing users with supporting news, data and research analytics. Global access to the BLOOMBERG PROFESSIONAL service will be provided by Bloomberg L.P. through its usual desktop.
AIG International will provide liquidity to traders through the platform and credit through existing contractual and banking relationships. Joseph Buthorn, Managing Director of AIG-FP, says the firm is “extremely excited to be working with Bloomberg Tradebook to bring this new innovative FX marketplace to institutional traders. We believe the product will provide a new level of service and liquidity to its users and will enable a wide range or users globally to have access to a high quality FX product through the BLOOMBERG PROFESSIONAL service.”
“On BLOOMBERG TRADEBOOK FX, active traders can trade with AIGI or its affiliates and remain anonymous in the FX marketplace,” says said Kim Bang, President of Bloomberg Tradebook. “In addition, users can choose to sweep the market available on BLOOMBERG TRADEBOOK FX, or use different trading strategies such as Reserve to seek reduced information leakage and market impact on their orders. Bloomberg Tradebook’s FX marketplace offers price discovery and real-time executable market depth rather than indicative prices and size on proprietary FX portals.”
The platform currently provides a marketplace in 16 major currency pairs. Advanced analytics, additional trading algorithms and FX Forwards will launch during the second quarter of this year.
“With the addition of FX and seamless integration with world class news, data, and research analytics on the BLOOMBERG PROFESSIONAL service, Bloomberg Tradebook and its affiliates provide a true multi-asset class liquidity hub for institutional investors seeking better executions in global equities, futures, options and foreign exchange,” adds Kim Bang.