Bloomberg has reported that European trading volumes in credit and non-government trading asset classes on the Bloomberg multi-dealer platform ALLQ increased by 300% in the first quarter of 2005 to approximately US$ 108 billion, compared to US$ 27 billion in the first quarter of 2004. These volumes exclude all single-dealer trading and are inclusive of all credit/corporate, covered bonds, agencies, supranationals and sovereigns.
In March 2005, Bloomberg reported daily trading volume in the European market across its credit trading platform as approximately $2 billion.
Bloomberg’s ALLQ price discovery and execution application is part of the Bloomberg Professional service and is available to all Bloomberg users. The Bloomberg ALLQ application has been expanded to include both ‘click and trade’ and request- for-quote (RFQ) capabilities. The Bloomberg ALLQ platform is designed to service both institutional and retail client flow.
“During the past year we have seen a dramatic increase in use of Bloomberg’s electronic trading platform,” said Russel Levi of Bloomberg. “Bloomberg has provided more liquidity, new features, broader distribution and deeper functionality as part of our ongoing commitment to continually add value to the single-price all-inclusive Bloomberg Professional service. Dealers increasingly look to meet customers on platforms that provide complete solutions and do not charge additional fees. The integration with Bloomberg’s rich functionality and the benefit of our broad distribution have led to a rise in trading volumes, particularly in the institutional market.”