COMSTAR and Bloomberg FXGO Introduce Joint Solution to Help Financial Institutions Improve Efficiency of FX Transactions

Shanghai – COMSTAR and Bloomberg FXGO introduced a joint solution which enables financial institutions to accelerate the automation of their foreign exchange businesses, providing more seamless customer experiences for corporate clients. This solution has been adopted by active dealers in China’s interbank market. ComStar is China’s leading finance service and risk management platform developed by CFETS Financial Data Co., Ltd. FXGO, Bloomberg’s premier multi-bank FX trading solution, provides access to hundreds of liquidity providers globally and regionally.

The COMSTAR-FXGO solution uses advanced automation technology to optimize FX workflows by automating manual tasks and reducing communication costs. For example, a bank can generate bulk automated quotes for clients’ standardized requests while providing customized quotes to meet specific needs. COMSTAR connects with Bloomberg FXGO through a standard API, offering institutions pricing and risk management tools.

“With the seamless connection to the interbank FX trading system, COMSTAR can quickly respond to the market and regulatory changes, providing market participants with efficient, convenient, safe and stable support,” said Qianyin Wang, General Manager of ComStar. “We will seize the momentum and continue to innovate solutions with an open mindset to achieve sustainable growth and meet the diversified needs of users. We are delighted to partner with Bloomberg to use the power of technology to help financial institutions to upgrade their services provided to clients and grow the business.”

“The collaboration with COMSTAR is another example of Bloomberg’s commitment to the China market and customizing our technology solutions for local customers. With the lingering impact of the Covid-19 pandemic on the global economy and markets, banks facing the challenges of market volatility and increased cost pressures are looking to bring operational efficiency to their workflows, enhancing the quality of service to customers. We look forward to providing foreign exchange business support for more financial institutions and enterprises in the near future,” said Tod Van Name, Global Head of Foreign Exchange Electronic Trading at Bloomberg L.P.

For more details about Bloomberg’s solutions for electronic trading of foreign exchange, please click here.

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About COMSTAR
As the infrastructure service provider of China Foreign Exchange Trade System (CFETS), CFETS Financial Data Co., Ltd. (COMSTAR) has accumulated 10 years of experience in R&D and operations. With an experienced team of technology professionals, COMSTAR has been providing the foreign exchange intelligent quotation engine to leading global and influential domestic foreign exchange market makers to publish quotations swiftly and execute trading efficiently so they can effectively capture market trading opportunities. ComStar has been well-recognized among clients for its solid validated service over the past 10 years as markets continue to evolve.

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 Terminal. 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.

Media Contact
Irene Gu, igu3@bloomberg.net, +86-10-6649-7535