Bloomberg Launches APAC FX Hosting Solution

Bloomberg has launched an Asia-Pacific regional hosting solution in Singapore to enhance the trading experience on its FXGO multibank trading platform.

The firm says it has implemented low-latency hardware and software optimisations in Singapore that have optimised pricing by liquidity providers, improving best execution and reducing transaction costs for regional FX market participants. It adds that “several major international investment banks have already connected to the solution”, helping to contribute to the growth and development of Singapore as an APAC centre of FX liquidity distribution.

“Bloomberg’s efforts to reduce FX latency will have long term positive implications for the region’s FX market,” says Foo-Weng Cheng, head of e-FX sales APAC at UBS. “With a growing number of primary inter-dealer platforms, multi-dealer platforms and FX liquidity venues setting up in Singapore, the community was looking for technology to enhance many of our matching, pricing and trading engines with low-latency solutions. We welcome Bloomberg’s latest enhancements, and we look forward to capturing more growth opportunities as this region’s FX needs become more sophisticated.”

Tod Van Name, global head of e-FX trading at Bloomberg, adds, “We cannot underestimate the growth potential of FX trading in the Asia-Pacific region, especially as trading electronically continues to gain momentum. We will continue to invest in additional solutions that will bring greater operational efficiencies and transparency for our global FX community.”