Bloomberg wins Energy Risk Asia 2020 Award for Best Commodities Trading Solution

“The past 12 months have been challenging for the commodities market, which has seen unprecedented market volatility, collapse of demand and lower trade flows. Despite these challenges, our clients were able to trade from home smoothly and uninterrupted, even when crude oil prices were negative. We will continue to innovate our product offering by adding new features to help global clients with market transparency and trading efficiencies,” said Emilie Gallagher, Global Head of Commodities and FX, Bloomberg.

“The Energy Risk judges were extremely impressed with Bloomberg’s trading solution and it received high acclaim from market participants we spoke to who are using it. As the solution is part of the Bloomberg Terminal, users have seamless access to Bloomberg research and analysis before and after trade execution. It adds efficiency and visibility to the tender process, aids liquidity provision – Bloomberg actively onboards counterparties – provides realtime analysis of hedging programs and creates a full audit of every stage of the trade cycle,” said Stella Farrington, Head of Content, Energy Risk.

Bloomberg’s commodities trading solution (CMET) enables corporations to request, receive and record real-time prices from preferred counterparties. Through a RFQ process, clients can execute and confirm trades and seamlessly integrate details into order management, risk management and back office systems.

Notable wins in 2020 include PT Pertamina, Indonesia’s largest oil and gas company, which is using CMET to manage its crude and gasoline hedging needs. One of Germany’s largest automobile producers is also using CMET for its new constituted metals hedging program in Asia. Their counterparty banks are also using CMET to provide liquidity to the automobile maker and other corporate clients. More information about CMET can be found here.