Bloomberg announced today that Haier Finance Co., Ltd has adopted its electronic trading platform (FXGO) and Multi-Asset Risk System (MARS) for FX trading and risk management.
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A subsidiary of giant Chinese electronics producer company Haier Group, Haier Finance is a non-bank financial institution that provides services including deposits and loans, financial advice, insurance and investment services. Haier Finance ranks among the top ten finance companies in China and FX is part of its core business, according to Bloomberg.
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“Bloomberg’s FX solutions have enhanced our efficiency by allowing us to streamline our workflow from front to back,” said Zhang Bing, Head of Trading at Haier Finance. “On Bloomberg FXGO, we can access real-time executable pricing from multiple banks, click and trade various FX instruments on the best price provided as well as the ability to demonstrate best execution for compliance and reporting purposes. Market transparency and efficiency is vital to the success of our FX business.”
“Haier Finance’s selection of Bloomberg’s FX solutions sets a new benchmark for corporate treasury in China,” added Tod Van Name, Bloomberg’s Global Head of FX and Commodities Electronic Trading. “Against the backdrop of uncertain global economic outlook and increasing market volatility, corporate treasurers today are under greater pressure. Financial and corporate executives need better solutions to improve workflow, enhance efficiency and reduce costs. We are looking forward to more and more Chinese corporations and market makers collaborating on our FXGO platform.”