Bloomberg Named FX Week’s Best Market Data Provider

FX Week Readers Reward Bloomberg For Spot Pricing And Benchmarking Solutions

Bloomberg has been named the year’s “Best FX Market Data Provider” by the FX Week Best Banks Awards 2016. Selected by the publication’s global readership of foreign exchange and money market professionals, the awards have set the industry’s benchmark for success in FX for over two decades.

Given the decentralized nature of the FX market, traders have previously lacked a clear, up-to-date picture of the FX market and price performance, making it harder for market participants to conduct robust price discovery. Bloomberg has driven increased transparency of information in FX markets by providing clients with the quality, actionable information needed to confidently determine competitive pricing.

The Bloomberg Generic Executable (BGNE) is derived from executable bid and ask quotes as a spot pricing source, while the IOSCO-compliant BFIX family of benchmarks provides solutions to portfolio benchmarking in foreign exchange. BGNE and BFIX users include treasurers and corporates, as well as spot foreign exchange traders, salespeople and forwards traders.

“We specifically developed BGNE as a spot pricing source to simplify the discovery process for our clients,” said Colin Gallagher, global head of FX products and analytics at Bloomberg. “Our pricing sizes blend all the executable spot pricing streams we receive to provide deeper clarity as to what market spreads are looking like. This helps our clients better define where they see liquidity, making every end of their foreign exchange process more productive.”

“The annual FX Week Best Banks Awards continue to be industry’s benchmark for quality of service and excellence. Clients across the globe cast their votes for their first-choice providers in each category, providing banks and vendors with qualitative feedback from investors, corporates and banks,” said Eva Szalay, Editor, FX Week. “By winning the Best FX Market Data Provider category in 2016, Bloomberg has demonstrated its commitment to being the market leader in the space, according to clients.”

BGNE and BFIX are available on the Bloomberg Professional service (Bloomberg Terminal) via FXGO. Enterprise consumers can also access these pricing sources in real-time through Bloomberg’s consolidated data feed, BPIPE.

Bloomberg’s recognition as the Best FX Market Data Provider is the result of a poll conducted between August 15 and September 16, 2016. FX Week will officially honor Bloomberg and the other 2016 winners at the Best Banks Awards in London on November 30.

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. 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. For more information, visit www.bloomberg.com or request a demo.