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Bloomberg Launches Analytics Hosting for Algorithmic Orders on FXGO
Traders Magazine Online News, September 16, 2019
Bloomberg recently announced the release of a new analytics hosting service for algorithmic orders on FXGO, its global foreign exchange electronic trading solution. Goldman Sachs, with one of the most innovative foreign exchange offerings in the market, will be the first liquidity provider to participate.
The technology integrates Bloomberg’s FX execution and straight through processing tools with Goldman Sachs’ pre-trade, in-flight and post-trade analytics. It offers insights into the algorithmic order execution to the global community of Goldman Sachs clients who leverage seamless execution using the Bloomberg Terminal. Any liquidity provider globally can use this service.
“Expanding Bloomberg’s electronic trading solution FXGO to offer a new algo analytics framework allows us to give the FX community real-time access to the banks view of liquidity and order execution. This brings new levels of market transparency and trading efficiency to our clients in the dynamic and evolving space of algo execution,” said Tod Van Name, Bloomberg’s Global Head of FX Electronic Trading. “Goldman Sachs is helping to lead the way at a time when FX market participants are looking for new ways to demonstrate best execution, and via one of the world’s largest and fastest-growing FX platforms.”
Damien Vanderwilt, global head of Goldman Sachs FICC Execution Services, said, “Being the first to offer real time algorithmic order analytics on Bloomberg, we are transforming the entire order execution experience. These proprietary tools make the execution process more efficient, and give our clients the latest technology to guide their execution inside their existing execution management system. We want to deliver best-in-class execution tools wherever our clients prefer to use them.”
The new algorithmic order service is available on FXGO’s execution manager, a Bloomberg Launchpad function that allows clients to manage their incoming orders and subsequently route them to liquidity providers. FXGO also provides tools for end-to-end execution of spot, forwards, swaps, options, precious metals and deposits.
Bloomberg's Foreign Exchange electronic trading platform 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.
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