Bloomberg Professional service launches new products to hedge
against currency risk

Shanghai — Bloomberg LP executives today announced the opening
of expanded offices in Shanghai to accommodate expanded news,
customer support and regional-specific services to meet growing
demand in China. The firm also revealed details of its new
services for Foreign Exchange (FX) options and cross-currency
swaps that help companies hedge against currency risk.

The new location in the International Financial Center houses
Bloomberg News editors, reporters, translators and staff of the
Bloomberg Professional service, the world’s most trusted source
of data, news and investing tools used by more than 300,000
financial and business professionals worldwide.

“China is an important and fast-growing market for us,” said
Peter Grauer, chairman of Bloomberg LP. “We will continue to
add the best people, products and services to ensure Chinese
investors get the edge they need in this competitive global
marketplace.”

Chris Collins, Bloomberg News Executive Editor for Asia, said, “Our
financial news in China continues to move the markets, providing
Bloomberg customers with the insight they need to make informed
business decisions.”

Investors can take advantage of the latest opportunities for
currency hedging via Bloomberg’s Chinese Yuan (CNY) FX options
calculator, which provides accurate prices for onshore CNY FX
option transactions. China’s State Administration of Foreign
Exchange now allows the trading of FX options between locally-
based banks, institutions and corporations.

Bloomberg is also offering daily reference prices for onshore
CNY cross currency swaps. The cross currency swap calculation
is based on pricing from 11 domestic and onshore foreign banks
in China, and provides accurate pricing for onshore and offshore
trading based on the Renminbi, the official currency of mainland
China.

“Renminbi internationalization offers exciting opportunities for
Chinese financial professionals in FX options and cross currency
swap trading. By customizing our cutting-edge financial
calculators for China, Bloomberg helps financial market
participants increase the sophistication of their trading and
hedge against exchange rate fluctuation,” said Gerard Francis,
Bloomberg’s Global Head of Emerging Markets.

About Bloomberg

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 300,000
subscriptions globally. Bloomberg’s enterprise solutions build
on the company’s core strength, leveraging technology to allow
customers to access, integrate, distribute and manage data and
information across organizations more efficiently and
effectively. Through Bloomberg Law, Bloomberg Government and
Bloomberg New Energy Finance, the company provides data, news
and analytics to decision makers in industries beyond finance.
And Bloomberg News, delivered through television, radio, mobile,
the internet and two magazines, Bloomberg Businessweek and
Bloomberg Markets, covers the world with more than 2,300 news
and multimedia professionals at 146 bureaus in 72 countries.
Headquartered in New York, Bloomberg employs more than 13,000
people in 166 locations around the world.

Contacts for Bloomberg:

Pam Snook, +212-617-7652, pamsnook@bloomberg.net
Sophie Fischman, +1 646 395 6300, Bloomberg@cognitomedia.com
Stuart Macaulay, +44 20 7438 1100,
BloombergEMEA@cognitomedia.com
Anne Karumo, +65 811264 09, BloombergAsia@cognitomedia.com