The Mexican peso is expected to underperform
most of its peers in the emerging markets, according to a survey of FX
corporate and sales executives, traders and strategists attending Bloomberg’s
FX16 Symposium found.
Out of more than 120 respondents, some
Any group’s reputation is dependent upon
its weakest link and as such the foreign exchange industry could be treading on
thin ice thanks to the apparent actions of one such “weak link”.
Sadly, we are back on the subject ...
Tradebook FX (TBFX), Bloomberg’s FX ECN, has reached an agreement with Citi for the bank to serve as a central clearing counterparty (CCP) on the platform.
“We feel that the combination of Citi’s expertise in FX, and FXPB in particular, and market leading role in foreign exchange globally, coupled with the wide network of Bloomberg clients will be very synergistic,” says Tom Murphy, head of FX, futures and equity options sales at Bloomberg Tradebook. Citi will be the second CCP on TBFX
George Harrington has left his role as the head of Bloomberg’s fixed income, currency and commodity (FICC) trading business (FICC).
In this New York-based position, he was responsible for overall strategy and delivery of the Bloomberg Fixed Income Trading (FIT) FIT and FXGO platforms.
Philip Cenatiempo, head of global markets at Bloomberg, will assume Harrington’s responsibilities.
Prior to this role, Harrington was head of product management for Bloomberg’s fixed income derivative trading business, overseeing single and multi-dealer execution services, clearing and legal execution services, and VCON – Bloomberg’s Voice trading network.
Bloomberg has launched executable streaming non-deliverable forwards (NDFs) on FXGO, its global foreign exchange trading platform.
Standard Chartered Bank (StanChart) will be the first liquidity provider to participate. Bloomberg says that the new offering will allow the bank to contribute executable pricing across a wide range of Asian and Latin American non-deliverable currencies to meet the needs of its corporate and institutional clients.
The solution integrates Bloomberg's FX execution and straight-through processing (STP) tools with StanChart’s liquidity. It’s designed to offer end-to-end workflow for NDF trading to the bank’s clients that wish to execute via the Bloomberg Terminal.
Bloomberg Tradebook has released a new cross-asset tool designed to enable firms to trade one security relative to a set benchmark.
In a release issued today, Bloomberg Tradebook claims that this Relative Benchmark Trading (RBT) algorithm will help traders using its PAIR (Pair) platform generate alpha, reduce the costs of trading and better manage risk.
It does this, the firm says, by enabling firms to leverage Bloomberg’s data to help them capture gains from the dynamic relative pricing of securities by tracking the performance of other instruments that drive the price of that stock.