Mostly… fixed income and cross product eTrading

March 22, 2007

Bloomberg marching into Reuters FX territory

Filed under: etrading — holky @ 6:57 pm

Something in EFN underlining platforms moving into new asset classes. (Yes I know bbg fx itself is not new)

Bloomberg is set to challenge the dominance held by its main rival Reuters over foreign exchange trading with the launch of a new trading marketplace – Tradebook FX – targetting the 18,000 traders from 4,000 companies that use Reuters’ dealing platform to trade FX spot, forwards, options and futures as well as interest rate and index swaps.

While Bloomberg and Reuters have between them dominated financial data provision, the electronic FX dealing sector has traditionally been the territory of Reuters alone- winning Financial News best foreign exchange trading system for the last three years in a row.

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4 Comments »

  1. Well they’ll have to provide a better FX system than their FI system…..IMO!

    Comment by waratah — March 23, 2007 @ 10:44 am

  2. Agreed. Will the march in the same way from platforms to ECN model in FI? Will they do that sooner rather than later?

    Comment by lacidar — March 25, 2007 @ 6:19 pm

  3. But are they missing the point by seeing Reuters as the main competition? What about the likes of Currenex, Hotspot, FxAll, Saxobank? All these players are very firmly entrenched in the FX market and by being specialists arguably service it much more effectively. As far as the sell-side provision of liquidity, Bloomberg FX has still yet to answer whether or not they actually have any clients on the platform. Sound familiar RTFI?

    Comment by edelweiss — March 26, 2007 @ 9:01 am

  4. My 2p on these guys providing e-trading, as per below:

    http://waratah.wordpress.com/2007/03/26/datanews-vendors-as-ecns-are-they-the-right-providers/

    Comment by waratah — March 26, 2007 @ 1:23 pm


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