CME Group has integrated market data and order entry capabilities from its electronic trading platform with Bloomberg’s Terminal to expand FX swaps pricing and liquidity.
The US derivatives exchange said the integration will increase the number of market participants that are able to view and execute on the liquidity pool provided through its central limit order book, FX Link.
Market participants using the Terminal can use CME Group’s FX Link to electronically access pricing, liquidity and trading for FX swaps in G5 currency pairs. Mutual clients can also access new FX futures contracts through Bloomberg’s ISV, Tradebook.
FX Link allows clients to manage various FX swaps and basis trading. It is an automated and anonymous connection between CME FX futures and the OTC FX marketplace. It allows for electronic trading in OTC spot FX transactions and CME FX futures contracts via a spread trade on the exchange’s Globex trading platform.
Several banks, including US investment bank Goldman Sachs, are already using the expanded FX Link platform for price discovery and to access additional liquidity for FX swaps in eight currency pairs after CME completed another integration with Refinitiv and IHS Markit in March.
“Our connection to CME FX Link enhances our data and trading offering and enables us to provide our clients with comprehensive trading solutions,” said Brian Coffaro global head of futures and options trading at Bloomberg.
“This integration enables us to continue delivering cross asset solutions that provide our clients with access to greater liquidity and price transparency in the futures and FX markets.”