Sri Lanka Deploys Bloomberg for Local FX Trading

Bloomberg has announced that its BMatch solution for interbank trading has been selected by Sri Lanka for trading in the local spot FX market.

FXGO’s BMatch solution offers matching functionality to the local interbank community for spot USD/LKR, and allows anonymous orders to be placed into a central limit order book, which are displayed and then matched with counterparty orders based on mutual trading limits and other parameters configured by each bank.

Bloomberg says the solution, which is operated by Tradebook Singapore, can be integrated with banks’ middle and back-office systems and that consolidated trade statistics can also be calculated and made available to the market.

“Robust and efficient financial markets will play a key role in the future growth of Sri Lanka’s economy,” says Rajiv Mirwani, head of Bloomberg, South Asia. “[Our solution] will help boost liquidity in the local foreign exchange market while making it more transparent and efficient.”