Euromoney Foreign Exchange Awards 2023: FX market leader best provider – best FX market data provider: Bloomberg
Volatile macroeconomic conditions have boosted demand for timely and accurate foreign exchange market data. Bloomberg has risen to this challenge, further cementing its reputation as a global leader in this field and creating an offering that is an integral part of the FX ecosystem.
A key differentiator is Bloomberg’s ability to provide market reflective prices across a huge range of FX products. During the review period, Bloomberg more than doubled the coverage of spot and forward instruments on its price discovery stream, the Bloomberg Generic Price (BGN). This increased coverage provides greater price transparency for market makers and takers. In addition, more than 20 spot markets were added to Bloomberg Fixing (BFIX) coverage across spot, forwards and non-deliverable forwards to meet evolving market needs.
Bloomberg also demonstrates solid and sustained investment in innovation, with a strong focus on improving the user experience through the development of new functionality on the platform. For example, while customers have been able to access normalised Depository Trust and Clearing Corporation (DTCC) post-trade data on the Bloomberg Terminal via SDR<GO> for many years, Bloomberg has recently incorporated the data into a unique source available on standard FX instruments, allowing users to utilise it in various analytical tools such as charts and desktop application interfaces.