Bloomberg gets nod to offer its FXGO FX platform in Malaysia
Business info leader Bloomberg has announced that its Singapore subsidiary Bloomberg Tradebook Singapore Pte Ltd has obtained approval from Bank Negara Malaysia (“BNM”) to offer its foreign exchange electronic trade negotiation platform FXGO in Malaysia, under BNM’s new Framework for Electronic Trading Platforms.
FXGO is an electronic trade platform for negotiating trades in spot, outright, swap, NDF, deposit, and FX option transactions. As a multi-bank FX trade platform, FXGO users can request prices from preferred banks, negotiate trades and seamlessly integrate trade negotiation details into order management, risk management and back office systems.
With FXGO, Bloomberg said that the Malaysian FX trading community can make more informed trading, hedging and investment decisions with advanced features such as netting, staging, pre-trade and post-trade allocations, reporting and straight-through processing. Specialised workflows for different user types, such as interbank trading, asset managers, and corporations are also available.
“Bloomberg has been a long-standing and dedicated partner for the Malaysian financial markets, and this approval further cements Bloomberg’s long-term commitment to the Malaysian market. We look forward to supporting the central bank in building a more transparent and efficient FX market. Market participants in Malaysia can access the largest community of FX professionals and users within other asset classes, enabling them to trade multiple currencies from a rich pool of liquidity,” said Tod Van Name, Bloomberg’s Global Head of FX Electronic Trading.
FXGO is available on the Bloomberg Terminal, used by the world’s leading asset managers, pension funds, corporate treasuries, government agencies and regional and global banks. FX traders can also tap on news, data and analytics to monitor markets, analyze trends and generate trading ideas on the Bloomberg Terminal.