Shell Taps Bloomberg Terminal to Manage FX Business Globally

Bloomberg has expanded its partnership with Shell’s FX unit, launching a new service that connects the central treasury manager’s corporate treasury operations across its subsidiaries worldwide.

This new offering allows Shell’s FX Central Treasury business to extract more value from Bloomberg Terminal, enabling its 718 operating units in 22 countries to directly access and exchange information with the company’s central treasury office.

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With this new functionality, combined with Bloomberg’s analytical capabilities, Shell will gain additional insight into the group’s risk profile with more than 200 distinct bank counterparties.

An Avenue to Access FX Information

Bloomberg Terminal already caters to a broad global market intelligence community. By feeding this information through a straight-through processing (STP) model, Shell is better able to route market requests from regional centers around the world to its central treasury.

Shell is also among a growing number of corporations using Bloomberg’s FXGO to find transparent pricing, execute currency trades and hedge foreign exchange risk.

Bloomberg’s FX solutions help market participants track prices, news, data and analytics in real time while analyzing market trends and generating trade ideas. It is part of an extensive suite of functions that allow both corporations and banks to access liquidity from over 300 providers worldwide.

Tod Van Name, Bloomberg’s Global Head of FX Electronic Trading, commented: “Shell has long been an early adopter of innovative FX technology. They have used Bloomberg’s FXGO electronic execution for many years.  Together, we have built a solution that creates a fast and easy end-to-end electronic FX workflow with a reliable order audit trail.  Shell has helped us create the tool that multi-national corporate treasury executives have needed for a long time.”

“Shell worked with Bloomberg to develop a comprehensive process that helps reduce our operating risk and transaction costs. Now, we can more efficiently route market requests from regional centers around the world to our central treasury.  The Bloomberg Terminal connects Shell with all our counterparties providing straight through processing (STP) into Shell’s treasury management system,” added Michael Dawson, Shell Head of Liquidity and Foreign Exchange.