Bloomberg now offers FXGO as approved e-trading platform in Malaysia

KUALA LUMPUR: Bloomberg Tradebook Singapore Pte Ltd has obtained approval from Bank Negara Malaysia (BNM) to offer its foreign exchange electronic trade negotiation platform (FXGO) in Malaysia, under BNM’s new Framework for Electronic Trading Platforms.

FXGO is an electronic trade platform for negotiating trades in spot, outright, swap, NDF, deposit, and FX option transactions.

As a multi-bank FX trade platform, FXGO users can request prices from preferred banks, negotiate trades and seamlessly integrate trade negotiation details into order management, risk management and back office systems.

With FXGO, the Malaysian FX trading community can make more informed trading, hedging and investment decisions with advanced features such as netting, staging, pre-trade and post-trade allocations, reporting and straightthrough processing.

Specialised workflows for different user types, such as interbank trading, asset managers, and corporations are also available.

“Bloomberg has been a longstanding and dedicated partner for the Malaysian financial markets, and this approval further cements Bloomberg’s long-term commitment to the Malaysian market,” Bloomberg’s global head of FX Electronic Trading Tod Van Name said.

“We look forward to supporting the central bank in building a more transparent and efficient FX market.

“Market participants in Malaysia can access the largest community of FX professionals and users within other asset classes, enabling them to trade multiple currencies from a rich pool of liquidity.”

FXGO is available on the Bloomberg Terminal, used by the world’s leading asset managers, pension funds, corporate treasuries, government agencies and regional and global banks.

FX traders can also tap on news, data and analytics to monitor markets, analyse trends and generate trading ideas on the Bloomberg Terminal.