Bloomberg Tradebook Services has announced the launch of the electronic Bloomberg Tradebook FX marketplace, which the company claims will usher in a new era for global FX market participants.
Bloomberg Tradebook FX creates an electronic marketplace that provides institutional traders with the ability to transact in foreign currency exchange while preserving their anonymity from other FX market participants and to use sophisticated trading algorithms to implement trading strategies efficiently.
Bloomberg Tradebook FX is integrated with the Bloomberg Professional service, meaning users will be provided with supporting news, data and research analytics. Global access to the Bloomberg Professional service will be provided by Bloomberg through its market-leading desktop community.
AIG International, which is an affiliate of AIG Financial Products and a member company of American International Group, will provide liquidity to traders through the platform and credit through existing contractual and banking relationships.
The platform currently provides a marketplace in 16 major currency pairs. Advanced analytics, additional trading algorithms and FX Forwards are expected to be available from the second quarter of 2007.