Bloomberg Tradebook Services, an electronic consolidator of global liquidity offering trading systems, has launched a new electronic foreign exchange trading platform on the Bloomberg Professional service. The new Bloomberg Tradebook FX platform utilizes Bank of America as clearing and settlement counterparty.
According to Bloomberg Tradebook Services, the Bloomberg Tradebook Fx service provides a marketplace for spot dealing in more than 40 currencies and enables clients to roll their trades in 28 currencies electronically. This platform aggregates liquidity from a diverse set of providers and Bloomberg Tradebook participants.
This platform aggregates all partial executions within an order into one single trade ticket with one average price for settlement, with the client’s choice of credit counterparty, said Bloomberg Tradebook Services.
Frederic Allatt, vice president at Bank of America FX Prime Brokerage, said: We are very pleased to be working with Bloomberg Tradebook as central counterparty for the Bloomberg Tradebook Fx service. The synergies between our organizations enable us to offer Prime Brokerage services to a broader range of select customers via Bloomberg Tradebook as we continue to run our core business, which services world-class managers in the FX Community.