Bloomberg Index Services Limited announced an agreement with Euronext FX to include Euronext FX’s Spot FX and Precious Metals transactions in its Bloomberg FX Fixings (BFIX) offering.

“Incorporating transaction data from a market venue such as Euronext FX further reinforces our benchmark’s robustness and supports market participants in efficiently executing orders via BFIX,” said Colin Gallagher, BFIX Benchmark & Currency Indices Product Manager at Bloomberg Index Services Limited. “We are pleased to broaden our reach, drawing from a wider spectrum of market liquidity and enhancing the overall quality of our benchmark.”

Inclusion of FX transaction data improves the ability for market participants to match BFIX, providing greater efficiency gains and reducing overall risk. The addition of Euronext FX Prints transaction data strengthens the objective of BFIX to provide FX fixings that are reliable, representative and transparent for global currency markets.

“Euronext FX is committed to supporting transparent and resilient benchmarks for global markets,” said Nicolas Jegou, CEO at Euronext FX. “As our platform continues to grow and serve a diverse range of market participants worldwide, our transaction data is increasingly relevant to the market. Our collaboration with Bloomberg on BFIX underscores our commitment to providing high-quality, robust data that supports reliable and representative FX benchmarks.”

BFIX is administered and calculated by Bloomberg Indices. Bloomberg Indices will conduct a market consultation to gather feedback on its plans to incorporate the Euronext FX Prints data into the BFIX methodology, with implementation expected later this year depending on the outcome of the consultation.

The BFIX family of benchmarks covers spot, forward and non-deliverable forward (NDF) rates for a comprehensive global coverage of currencies and metals. BFIX produces over 1,300 spot currency pairs, and 3,950 forward and NDF fixings. The benchmarks, which are UK BMR compliant and designed in alignment with the International Organization of Securities Commissions’ (IOSCO) principles for financial benchmarks, are used by market participants who need to use foreign exchange rates for portfolio benchmarking, derivatives valuation, index construction and trade execution.