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Bloomberg Unveils FX Option Trading Technology

November 15, 2012

NEW YORK — Bloomberg executives today unveiled a new feature
that enables clients to trade foreign exchange (FX) options
through Bloomberg’s multi-bank trading platform, FXGO. Through
the request-for-quote (RFQ) system, market participants can
simultaneously request and consolidate pricing from multiple
providers for any currency option.

Bloomberg’s FX option solution provides buy-side firms,
corporate treasuries and other institutions tools to obtain
multiple prices before executing a trade, facilitating a
seamless transition to the regulated environment anticipated
under new derivatives legislation.

“Regulation is accelerating changes in the FX marketplace and
clients want ready-made, sophisticated features to help them
meet the latest requirements,” said Tod Van Name, Bloomberg’s
Global Head of Foreign Exchange, Economics and Commodities. “We
make it a priority to provide our clients transparency, deep
liquidity and trading efficiencies in today’s increasingly
complex marketplace.”

Bloomberg subscribers’ quote requests can be priced via
automated bank pricing engines or manually quoted by more than
230 liquidity providers, enabling market participants to trade
with major and local market makers with no additional costs to
buy or sell-side firms. Bloomberg’s options RFQ system supports
all common and many exotic strategies in any currency pair.

“Credit Suisse is pleased to be one of the first banks to
provide competitive automated FX options quotes through
Bloomberg’s new service,” said Joerg Schmuecker, global head of
FX options e-commerce at Credit Suisse. “It is clearly going to
be important for end-users of these markets to have access to
multiple-bank trading systems as new regulations designed to
achieve best execution are introduced.”

The FX option technology is integrated with Bloomberg FXGO,
connecting more than 5,400 market participants across 100
countries to liquidity providers on the system. Average daily
volume on FXGO, which includes spot, outright, non-deliverable
forwards (NDFs), swaps and deposit trades, has increased 79%

Bloomberg’s FX suite provides pre-trade analytics, price
discovery, execution and risk management tools, straight-through
processing and integration with Bloomberg’s derivative and
portfolio management tools. For more information about Bloomberg
FX, please visit

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