Bloomberg Creates First NDF Clearing Link From FXGO To CME Group
Bloomberg executives announced the industry's first integration between a foreign exchange (FX) Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term and a clearinghouse for clearing of non-deliverable forwards (NDFs). The connectivity was established to prepare for the mandatory clearing of over-the-counter (OTC) derivatives traded on swap execution facilities (SEFs).
The NDF trades were electronically executed via Bloomberg's Foreign Exchange platform FXGO, available on the Bloomberg Professional service. Bloomberg clients traded over FXGO and the transactions were cleared through clearing brokers at CME Group. Bloomberg intends to register with the U.S. Commodity Futures Trading Commission (CFTC) as a SEF.
"These trades are a clear signal to our customers, especially buy-side firms, that we are ready, willing and able to help them comply with any upcoming regulations," said Tod Van Name, global head of Bloomberg's FX business. "Our strong base of NDF Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term providers on FXGO and our voice confirmation system (VCON) means clients will have a single, seamless system for OTC derivatives trading ready whenever they need it."
Michael O'Connell, CME Clearing's Managing Director, said, "As the leading clearinghouse for straight through processing (STP) of OTC derivatives, CME’s open standard API has helped platforms such as Bloomberg send trades directly to a CCP, thereby facilitating scalable OTC-cleared trading. We look forward to developing standard trade processes and enhancing our OTC offering, especially since FX is a growing market."
Bloomberg FXGO provides a commission-free electronic trading platform for counterparties to execute spot, outright, swap, NDF, deposit and option transactions. Subscribers to the Bloomberg Professional service, the leading platform for business and financial professionals, can access Bloomberg FXGO by typing {FXGO}.
CFTC votes in favor of exchange traded swaps.
NDF currencies include:
| Asia Pacific | Europe, Middle East and Africa | Latin America |
| CNY Chinese Renminbi IDR Indonesian Rupiah INR Indian Rupee KRW South Korean Won MYR Malaysian Ringgit PHP Philippine Peso TWD Taiwan Dollar VND Vietnamese đồng | EGP Egyptian pound ILS Israeli Shekel KZT Kazakh tenge RUB Russian Ruble | ARS Argentine Peso BRL Brazilian Real CLP Chilean Peso COP Colombian Peso GTQ Guatemalan quetzal PEN Peruvian nuevo sol UYU Uruguayan peso VEB Venezuelan bolívar |
Bloomberg executives announced the industry's first integration between a foreign exchange (FX) Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term and a clearinghouse for clearing of non-deliverable forwards (NDFs). The connectivity was established to prepare for the mandatory clearing of over-the-counter (OTC) derivatives traded on swap execution facilities (SEFs).
The NDF trades were electronically executed via Bloomberg's Foreign Exchange platform FXGO, available on the Bloomberg Professional service. Bloomberg clients traded over FXGO and the transactions were cleared through clearing brokers at CME Group. Bloomberg intends to register with the U.S. Commodity Futures Trading Commission (CFTC) as a SEF.
"These trades are a clear signal to our customers, especially buy-side firms, that we are ready, willing and able to help them comply with any upcoming regulations," said Tod Van Name, global head of Bloomberg's FX business. "Our strong base of NDF Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term providers on FXGO and our voice confirmation system (VCON) means clients will have a single, seamless system for OTC derivatives trading ready whenever they need it."
Michael O'Connell, CME Clearing's Managing Director, said, "As the leading clearinghouse for straight through processing (STP) of OTC derivatives, CME’s open standard API has helped platforms such as Bloomberg send trades directly to a CCP, thereby facilitating scalable OTC-cleared trading. We look forward to developing standard trade processes and enhancing our OTC offering, especially since FX is a growing market."
Bloomberg FXGO provides a commission-free electronic trading platform for counterparties to execute spot, outright, swap, NDF, deposit and option transactions. Subscribers to the Bloomberg Professional service, the leading platform for business and financial professionals, can access Bloomberg FXGO by typing {FXGO}.
CFTC votes in favor of exchange traded swaps.
NDF currencies include:
| Asia Pacific | Europe, Middle East and Africa | Latin America |
| CNY Chinese Renminbi IDR Indonesian Rupiah INR Indian Rupee KRW South Korean Won MYR Malaysian Ringgit PHP Philippine Peso TWD Taiwan Dollar VND Vietnamese đồng | EGP Egyptian pound ILS Israeli Shekel KZT Kazakh tenge RUB Russian Ruble | ARS Argentine Peso BRL Brazilian Real CLP Chilean Peso COP Colombian Peso GTQ Guatemalan quetzal PEN Peruvian nuevo sol UYU Uruguayan peso VEB Venezuelan bolívar |