NEW YORK and LONDON, March 19 /CNW/ -- Bloomberg Tradebook Services LLC
("Bloomberg Tradebook") today announced the launch of the electronic BLOOMBERG
TRADEBOOK(R) FX marketplace, to be known as "BLOOMBERG TRADEBOOK FX," which
ushers in a new era for global FX market participants.
BLOOMBERG TRADEBOOK FX creates a unique 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 market-leading desktop
AIG International Inc. ("AIGI"), which is an affiliate of AIG Financial
Products Corp. ("AIG-FP") and a member company of American International
Group, 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. 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," said Kim Bang, President of
Bloomberg Tradebook. "Bloomberg Tradebook's FX marketplace offers price
discovery and real-time executable market depth rather than indicative prices
and size on proprietary FX portals."
Joseph Buthorn, Managing Director of AIG-FP said, "We are 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."
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," said Kim Bang.
Bloomberg L.P. is the leading global provider of data, news and
analytics. The BLOOMBERG PROFESSIONAL(R) service and Bloomberg's media
services provide real-time and archived financial and market data, pricing,
trading, news and communications tools in a single, integrated package to
corporations, news organizations, and financial and legal professionals around
the world. Bloomberg's media services include the global BLOOMBERG NEWS(R)
service with more than 2,000 professionals in 130 bureaus worldwide; the
BLOOMBERG TELEVISION(R) 24-hour business and financial network produced and
distributed worldwide on ten separate channels in seven languages; and
BLOOMBERG RADIO(R) services which provide up-to-the-minute news on XM, Sirius
and WorldSpace satellite radio around the world and on WBBR 1130AM in New
York. In addition, Bloomberg publishes BLOOMBERG MARKETS(R) magazine and
BLOOMBERG PRESS(R) books for investment professionals. For more information
please visit http://www.bloomberg.com.
About Bloomberg Tradebook
Bloomberg Tradebook Services LLC, the operator of BLOOMBERG TRADEBOOK FX,
is a wholly-owned subsidiary of Bloomberg L.P. Globally, BLOOMBERG TRADEBOOK
FX is offered by Bloomberg Tradebook Services LLC and affiliates where
necessary legal and regulatory clearances have been obtained.
Bloomberg Tradebook LLC, an affiliate of Bloomberg Tradebook, offers
global electronic agency brokerage that enables investment professionals to
trade equities, futures and options via the BLOOMBERG PROFESSIONAL service.
Bloomberg Tradebook LLC serves institutional investors and traders globally
with comprehensive front-to-back execution, clearance and settlement solutions
across multiple asset classes in over 60 markets worldwide.
Bloomberg Tradebook Services LLC is not registered with the U.S.
Commodity Futures Trading Commission ("CFTC") or the U.S. Securities and
Exchange Commission ("SEC") and is not a member of the U.S. National Futures
Association ("NFA") or the National Association of Securities Dealers, Inc.
("NASD"). Bloomberg Tradebook LLC, an entity registered with the CFTC and the
SEC and a member of the NFA and the NASD, is not involved in the offering or
operating of Bloomberg Tradebook FX.
BLOOMBERG TRADEBOOK and Bloomberg Tradebook FX are registered trademarks
of Bloomberg Tradebook Services LLC and its affiliates.
For further information:
For further information: Judith Czelusniak of Bloomberg LP, (212)
617-1212, firstname.lastname@example.org, Web Site: http://www.bloomberg.com