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Bloomberg Launches Trading Platform for Derivatives Compliance

September 22, 2011

NEW YORK — Institutional investors facing upcoming Dodd-Frank
Act regulations on over-the-counter (OTC) derivatives can get
another step closer to compliance with new technology from
Bloomberg’s Fixed Income Trading, executives announced today.

Bloomberg FIT has launched the first commingled trading platform
for OTC swap trading, ALLQ Derivatives, which allows buy-side
investors to review indicative prices and execute directly with
dealers on the Bloomberg Professional Service. The new
technology is the foundation for Bloomberg’s development of a
swaps execution facility (SEF) offering. The platform will be
adapted upon finalization of the SEF rules by regulators. The
Dodd-Frank Wall Street Reform & Consumer Protection Act requires
companies to trade credit-default swaps (CDS) and other
derivatives products through SEFs.

The Bloomberg AllQ platform is the first to provide a full view
of dealer liquidity available in the market and to provide
multi-currency details on interest rate swaps (IRS) and CDS. In
the IRS market, investors can review executable prices in four
currencies in maturities ranging from one year to 30 years. A
wide range of dealers are participating on AllQ IRS including:
Bank of America Merrill Lynch, Barclays Capital, BNP Paribas,
Citigroup, COMMERZBANK, Credit Suisse, Danske Bank, The Royal
Bank of Scotland plc, Société Générale and UBS. For CDS Indices,
customers can execute on prices in both the CDX© and ITRAXX©
index suites. Participating dealers in the CDS Index markets
are: Bank of America Merrill Lynch, Barclays Capital, BNP
Paribas, Citigroup, Credit Suisse, Goldman Sachs, Nomura, The
Royal Bank of Scotland plc and UBS.

“Bloomberg is the largest independent trading platform for OTC
derivatives and we have been actively working with regulators to
develop the mandatory clearing and post-trading reporting
requirements,” said Ben Macdonald, Global head of Bloomberg’s
Fixed-Income business. “The challenge now is to get the market
ready, when we don’t know exactly what the regulations will
entail. The development of the ALLQ Derivatives platform is a
crucial step toward SEF-style trading and the support we are
getting in the marketplace is strong.”

The AllQ Derivatives platform capitalizes on Bloomberg’s voice
technology (VCON), the leading post-trade processing system for
cash and derivative securities. For more information on AllQ
Derivatives, in the U.S. contact Jeff Missimer at +212-617-2236
or, in the EMEA, contact Richard Warrick
at +20 7330 7604 or For more information
on Bloomberg’s Fixed Income products and services go to

About Bloomberg

Bloomberg L.P. is the world’s most trusted source of data, news
and technology for businesses and financial professionals.
Headquartered in New York, the company employs more than 13,000
people in 185 locations around the world. Bloomberg Fixed
Income Trading (FIT) is the world’s largest and most widely used
fixed income trading platform. FIT provides liquidity, trading
functionality, and straight-through-processing across all fixed
income asset classes including cash bonds, repo, money markets,
interest-rate and credit derivatives, mortgages, money markets,
and municipal bonds. FIT is the only fixed income platform which
is fully integrated with the Bloomberg Professional service.

Media Contacts:
* Pam Snook, Bloomberg LP,, +212-617-7652
* Sophie Fischman,, +1 646 395 6300
* Stuart Macaulay,, +44 20 7438 1100
* Stella Xu, Bloomberg LP,, +86-10-6649-7551
* Anne Karumo, APAC,, +65 8112 64 09