Central Bank of Nigeria taps Bloomberg BMatch solution for interbank FX trading
New development will enable spot matching functionality to the local interbank community for US dollar against the Nigerian naira.
New development will enable spot matching functionality to the local interbank community for US dollar against the Nigerian naira.
The move will “bring much-needed competition to the equity index derivatives industry,” said Thomas Gallagher, chair and chief executive of Miami International Holdings (MIH).
The move will support the bank’s RMB cash bond market-making under Bond Connect and its USD interest rate swap (IRS) market-making in Hong Kong.
Solution is set to increase operational efficiency and provide real-time transparency on trade matching.
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The adoption of Bloomberg’s MARS Hedge Accounting offering, alongside MARS Front Office and MARS Counterparty Risk, will provide the firm with a complete set of risk management capabilities.
Service will allow users to send FX orders into executing counterparts without being present in said time zone; initial launch extends to currencies including USD, GBP, HKD, EUR, and JPY.
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The move will allow quants and research analysts to use Bloomberg Second Measure transaction data analytics with its Data License offering for better insights into companies’ performance.
New developments coincide with latest enhancements applicable to the Northbound Swap Connect scheme, which commence on Monday.