Bloomberg Chat-Based FX Trading Tool Offers Proven Efficiencies
IB Dealing enables FX trade negotiation, execution and STP for all Bloomberg
NEW YORK -- May 23, 2013
To meet the growing needs of foreign exchange (FX) clients around the world,
Bloomberg today unveiled Instant Bloomberg (IB) Dealing, a cost-effective,
chat-based platform for FX traders. IB Dealing is already being used by more
than 100 global banks across 46 countries for trade negotiation, execution and
straight-through processing (STP).
Citi collaborated with Bloomberg to enhance IB Dealing and its adoption of the
platform generated department-wide cost savings by reducing the number of
other trade communication systems used by its FX and emerging markets trading
"Bloomberg’s IB Dealing capabilities have significantly reduced the costs of
our foreign exchange trading operations and improved our internal
communication," said David O’Shea, Director of Emerging Market FX and EMFX
E-commerce at Citi New York. "By developing a single integrated platform,
Bloomberg has produced a solution that Citi will be able to rely on for years
IB Dealing meets Citi's monitoring and compliance guidelines and is now used
by its FX and emerging markets traders worldwide to securely send and receive
trade and pricing information, internally and externally. The platform is
available as part of the Bloomberg Professional service, which is also used
across Citigroup's organization for data, news and analytics.
"IB Dealing – which has been developed in collaboration with FX traders –
provides the global FX community with the capabilities it needs to negotiate
transactions, electronically execute and report trades using one, integrated
platform," said Tod Van Name, Bloomberg’s Global Head of FX, Economics and
Commodities. "Customer service is Bloomberg's utmost priority and our clients
are increasingly looking to Bloomberg for innovative and efficient end-to-end
solutions that provide exceptional value in today's challenging environment."
IB Dealing, used to negotiate and confirm spot, outright, non-deliverable
forwards (NDFs), deposits and option transactions, is integrated with
Bloomberg's instant message capabilities and multi-bank trading platform,
FXGO. Bloomberg's communication tools, including instant message and group
chat functionality, connect more than 315,000 business and financial
subscribers in a secure environment.
All subscribers to the Bloomberg Professional service can access IB Dealing by
typing IBD<GO>. Clients and prospects can get more information on Bloomberg's
complete FX solution by visiting www.bloomberg.com/fx.
Bloomberg, the global business and financial information and news leader,
gives 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 315,000 leading business and financial
professionals around the world.
The Bloomberg Professional service is owned and distributed by Bloomberg
Finance LP. For more information go to www.bloomberg.com.
Citi, the leading global bank, has approximately 200 million customer accounts
and does business in more than 160 countries and jurisdictions. Citi provides
consumers, corporations, governments and institutions with a broad range of
financial products and services, including consumer banking and credit,
corporate and investment banking, securities brokerage, transaction services,
and wealth management.
Additional information may be found at www.citigroup.com | Twitter: @Citi |
YouTube: www.youtube.com/citi | Blog: http://new.citi.com | Facebook:
www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi
Photos/Multimedia Gallery Available:
U.S. - Sabrina Briefel, +1-212-617-1993
APAC - Debbie Liew, +65-6212-1166
EMEA - Natalie Harland, +44-20-3525-8820
Global - Scott Helfman, +1-212-816-9241
Press spacebar to pause and continue. Press esc to stop.