Bloomberg Tradebook Services LLC has launched the electronic BLOOMBERG TRADEBOOK(R) FX marketplace.
BLOOMBERG TRADEBOOK FX creates an electronic marketplace providing institutional traders with the ability to transact in foreign currency exchange while preserving their anonymity from other FX market participants, and to use sophisticated trading algorithms to implement trading strategies efficiently.
BLOOMBERG TRADEBOOK FX is integrated with the BLOOMBERG PROFESSIONAL(R) service, providing users with supporting news, data and research analytics. Global access to the BLOOMBERG PROFESSIONAL(R) service will be provided by Bloomberg L.P, through its desktop community.
AIG International Inc. will provide liquidity to traders through the platform and credit through existing contractual and banking relationships.
“On BLOOMBERG TRADEBOOK FX, active traders can trade with AIGI or its affiliates and remain anonymous in the FX marketplace,” says 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,” he adds.
“We are extremely excited to be working with Bloomberg Tradebook to bring this new innovative FX marketplace to institutional traders,” says Joseph Buthorn, Managing Director of AIG-FP. “We believe the product will provide a new level of service and liquidity to its users and will enable a wide range of users globally to have access to a high quality FX product through the BLOOMBERG PROFESSIONAL service.”