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New online FX marketplace launched

New online FX marketplace launched

(20 March 2007 – USA) Bloomberg has launched an online foreign exchange marketplace called the Tradebook. The FX system allows institutional traders to transact anonymously in a number of foreign currency exchanges. They can also set up sophisticated algorithms to implement trading strategies.

The platform currently allows traders to operate in a marketplace of 16 currency pairs but Bloomberg said advanced analytics, additional trading algorithms and FX forwards would be launched later in 2007.

Bloomberg Tradebook president Kim Bang said traders could trade with AIG International or its affiliates and remain anonymous in the FX marketplace.

'In addition, users can choose to sweep the market available on Bloomberg Tradebook FX, or use different trading strategies such as reserve to seek reduced information leakage and market impact on their orders.'
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