Asia Risk staff and Asian investors selected Bloomberg for the top award for several achievements including:
-Leading the evolution of the new offshore renminbi (CNH) market by creating an industry working group for the introduction of new data, yield curves and reference rate services;
-Developing a new code (CNH) to distinguish the offshore renminbi from the onshore renminbi (CNY) with the Bank of China, HSBC and Standard Chartered. Bloomberg adopted the CNH code, captured its price history and introduced a CNH bond listing and bond index. The company also held a series of educational events on the new market;
-Defining the new CNY derivatives market by initiating an industry working group of regulators, banks and market participants and being first-to-market with onshore CNY tools and data for portfolio valuation and risk analysis by the time the market launched in April of this year.
“CNH is a young market that has only developed since 2010. It is always difficult for traders working in this kind of market, because liquidity is poor and the market is less transparent. Bloomberg has done a good job in helping us tackle these issues,” an official at one of the big four Chinese state-owned commercial banks says in the Asia Risk article.
Matthew Rees, Bloomberg’s Head of Sales for APAC, said, “This award is a testament to Bloomberg’s commitment to supporting transparency and openness in the global capital markets and in the APAC region, which is a critical market for Bloomberg. This award recognizes our leadership in developing comprehensive and leading-edge technology, data and analytics.”
Since 2000, Asia Risk magazine annually recognizes global financial institutions for excellence in risk management. The awards rank products and services across 35 categories that recognize excellence in trading, service, products and technology that serves the derivatives, equities, credit and energy securities markets. In determining the winner of The “Technology Company of the Year,” Asia Risk interviewed market participants who acknowledged Bloomberg’s role in Asian financial markets.
Bloomberg continues to grow and now has 35 offices across Asia Pacific. For more information on Bloomberg’s financial and technology products and services, please visit www.bloomberg.cn, www.Bloomberg.co.jp, www.bloomberg.com or call customer service at + 852-2977-6000.
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