Bloomberg Driving Volkswagen’s Foreign Exchange Trading Platform
Volkswagen Brazil selects FXGO to manage currency exposure across South
NEW YORK -- April 3, 2013
Volkswagen Brazil, a wholly owned subsidiary of the German automobile
manufacturer, has adopted Bloomberg's Foreign Exchange trading platform FXGO
to manage its global currency risks.
Volkswagen Brazil is among a growing number of corporations using FXGO to find
transparent pricing, execute currency trades and hedge foreign exchange risk.
FXGO is part of the Bloomberg Professional service, which is also used by
Volkswagen Brazil to monitor global news and financial market data,
communicate with global counterparties and evaluate economic outlooks.
"Bloomberg's system simplifies our pricing process, increases internal and
external communications and provides us a single, integrated solution for
financial information and currency trading," said Bernd Schmidt-Liermann,
Volkswagen's Head of Regional Treasury in South America. "The platform
provides our organization increased efficiency and agility, and that was
paramount in our decision to select Bloomberg as our sole currency trading
Volkswagen Brazil now also uses FXGO to manage foreign exchange exposure for
Volkswagen Argentina, and plans to use the platform with other subsidiaries
across South America.
"Corporations around the world are looking to Bloomberg for more efficient,
cost-effective solutions in today's challenging market environment," said Tod
Van Name, Bloomberg's Global Head of Foreign Exchange, Economics and
Commodities. "Bloomberg FXGO provides firms with transparent pricing, trading
solutions and integration with risk management and internal systems all on one
In Brazil since 1953, Volkswagen Brazil is the country's largest manufacturer
of automobiles and light commercial vehicles and the largest automotive
"We are providing the Volkswagen Brazil team a simple, commission-free
solution that empowers them to manage their currency exposure," said Geraldo
Coelho, Bloomberg's Head of Sales for South America. "Through FXGO we are
offering companies of all sizes, geographies and industries the ability to
improve their price discovery, automate financial transactions and ultimately
reduce operational risks."
Bloomberg FXGO enables corporate treasurers, traders and investment
professionals to electronically execute eligible spot, outright, swap,
non-deliverable forward (NDF), deposit and option transactions with more than
300 global providers.
For more information on Bloomberg FXGO visit www.bloomberg.com/fx or FXGO on
the Bloomberg Professional service. Clients and prospects can also request
more information from the heads of sales in the following regions:
*South America - Geraldo Coelho, email@example.com, +55-11-3048-4516
*North America - Matthew Rees, firstname.lastname@example.org, +1-212-617-2339
*Asia Pacific - Grant Coombe, email@example.com, +65-6212-1809
*Europe - Mark Flatman, firstname.lastname@example.org, +44-20-7330-7882
Bloomberg, the global business and financial information and news leader,
gives influential decision makers a critical edge by connecting them to a
dynamic network of information, people and ideas. The company’s strength –
delivering data, news and analytics through innovative technology, quickly and
accurately – is at the core of the Bloomberg Professional service, which
provides real time financial information to more than 310,000 subscribers
Sabrina Briefel, +212-617-1993
Natalie Harland, +44-20-3525-8820
Belina Tan, +65-6231-3637
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