Bloomberg Adds Euronext FX Data to BFIX

Bloomberg Index Services has added to its FX data sources by reaching an agreement to include spot FX and precious metals trade data from Euronext FX to its benchmark service, BFIX.

The move adds data from an ECN to the BFIX FX methodology, which previously only used data from executable prices on Bloomberg or from prices derived from a mix of executable and indicative quotes. This brings it closer to the methodology used by WMR for its dominant FX benchmark Fix, although the latter largely uses data from the primary FX central limit order books, which are not subject to last look. WMR also uses a mix of executable and indicative pricing for low liquid currency pairs.

“Incorporating transaction data from a market venue such as Euronext FX further reinforces our benchmark’s robustness and supports market participants in efficiently executing orders via BFIX,” says Colin Gallagher, BFIX Benchmark & Currency Indices product manager at Bloomberg Index Services. “We are pleased to broaden our reach, drawing from a wider spectrum of market liquidity and enhancing the overall quality of our benchmark.”