I don't know if this has anything at all to do with Spooz either, but I am trying to find out. If you can cut and paste the similarities you mentioned I would be interested.
In the meantime, here is the PR from Bloomberg in its entirety.
MC
New BLOOMBERG TRADEBOOK Electronic FX Marketplace Goes Live With Bank of America as Central Counterparty
NEW YORK, Nov. 18 /PRNewswire/ --- Bloomberg Tradebook Services LLC ("Bloomberg Tradebook") has launched its new electronic foreign exchange trading platform on the BLOOMBERG PROFESSIONAL® service. The new BLOOMBERG TRADEBOOK® FX platform utilizes Bank of America (NYSE: BAC - News), one of the world's largest financial institutions, as clearing and settlement counterparty.
The BLOOMBERG TRADEBOOK FX service provides a marketplace for spot dealing in more than 40 currencies and enables clients to roll their trades in 28 currencies electronically. The platform offers advanced trading strategies including event-driven orders and sweeping, time-queued and stop loss orders.
The BLOOMBERG TRADEBOOK FX platform aggregates liquidity from a diverse set of providers and BLOOMBERG TRADEBOOK participants, creating a deep natural liquidity pool for institutional investors. This platform aggregates all partial executions within an order into one single trade ticket with one average price for settlement, with the client's choice of credit counterparty.
"The BLOOMBERG TRADEBOOK FX service gives traders the ability to place limit orders, drive quotes and execute block size to seek superior execution," said Kim Bang, President of Bloomberg Tradebook. "We are delighted to be working with Bank of America and look forward to them assuming the global execution and settlement counterparty role."
"Working closely with our clients, we continually enhance BLOOMBERG TRADEBOOK FX functionality and ease of use. By integrating with third-party execution management and order management systems, we accommodate the risk and workflow needs of our users. Our new post-trade allocation application enables clients to allocate trades on either percentage or notional breakdown based on a net average price, which is then seamlessly communicated across multiple accounts or Prime Brokers. We look forward to adding even greater value to FX market participants," Bang added.
Frederic Allatt, Vice President at Bank of America FX Prime Brokerage, said, "We are very pleased to be working with Bloomberg Tradebook as central counterparty for the BLOOMBERG TRADEBOOK FX service. The synergies between our organizations enable us to offer Prime Brokerage services to a broader range of select customers via Bloomberg Tradebook as we continue to run our core business, which services world-class managers in the FX Community."
About Bloomberg Tradebook
Founded in 1996, Bloomberg Tradebook Services LLC is a leading electronic consolidator of global liquidity offering trading solutions in more than 60 global markets via ten offices on five continents. Bloomberg Tradebook and affiliates provide a complete and industry-leading multi-asset class electronic trading solution for institutional investors in global equities, futures, options and foreign exchange.
The BLOOMBERG TRADEBOOK® service is a leading global agency broker used by institutional traders, broker-dealers, hedge fund managers, market-makers and portfolio managers worldwide providing them with a comprehensive front-to-back execution, clearing and settlement solution for equities, futures, options and FX instruments.
Bloomberg Tradebook's commitment to customer service and a unique blend of innovative trading algorithms and algorithmic trading strategies help buy-side institutions and broker-dealers seek best execution. The BLOOMBERG TRADEBOOK service's integration with the Bloomberg Professional service provides users with the unparalleled advantages of liquidity, news and research analytics on a single platform.
Bloomberg Tradebook provides all clients with around-the-clock transactional service and support.
Bloomberg Tradebook Services LLC, the operator of BLOOMBERG TRADEBOOK® FX, is a wholly-owned subsidiary of Bloomberg L.P. Globally, BLOOMBERG TRADEBOOK FX is offered by Bloomberg Tradebook Services LLC and affiliates where necessary legal and regulatory clearances have been obtained.
Bloomberg Tradebook LLC, an affiliate of Bloomberg Tradebook, offers global electronic agency brokerage that enables investment professionals to trade equities, futures and options via the BLOOMBERG PROFESSIONAL® service. Bloomberg Tradebook LLC serves institutional investors and traders globally with comprehensive front-to-back execution, clearance and settlement solutions across multiple asset classes in over 60 markets worldwide.
Bloomberg Tradebook Services LLC is not registered with the U.S. Commodity Futures Trading Commission ("CFTC") or the U.S. Securities and Exchange Commission ("SEC") and is not a member of the U.S. National Futures Association ("NFA") or the National Association of Securities Dealers, Inc. ("NASD"). Bloomberg Tradebook LLC, an entity registered with the CFTC and the SEC and a member of the NFA and the NASD, is not involved in the offering or operating of Bloomberg Tradebook FX.
BLOOMBERG TRADEBOOK is a registered trademark of Bloomberg Tradebook Services LLC and its affiliates.
Communicated by Bloomberg Tradebook Europe Limited; registered in England & Wales No. 3556095, authorized and regulated by the UK Financial Services Authority No. 187492.
Let's see the money
