Bloomberg’s FXGO Gets Bank Negara’s Nod to Operate in Malaysia

Bloomberg, the global business and financial information provider, today announced that Bank Negara Malaysia has approved its FX trading platform () under Malaysia’s new Framework for Electronic Trading Platforms.
Bloomberg’s FXGO allows market participants to trade from available through their Bloomberg Terminal, which allows local corporations to find transparent pricing, execute currency trades and hedge foreign exchange risk.

FXGO system is fully integrated with Bloomberg’s data, news, analytics and communications tools. The commission-free trading platform is part of the Bloomberg Professional service, which will be also used by Malaysia’s corporations to monitor global news and financial market data, communicate with global counterparties and evaluate economic outlooks.
The news comes barely one week after secured similar approvals as electronic trading platforms.
Malaysian central bank’s framework, which came into effect in November 2019, applies to participants in the wholesale financial markets, including money brokers operating electronic broking platforms, and operators of electronic trading terminals.
The framework sets out approval requirements for platform operators to be eligible to provide their services in Malaysia. The term “electronic trading platform” when used in the Framework includes an electronic broking platform.
Bloomberg’s FX solutions help market participants track prices, news, data and analytics in real time whilst analysing market trends and generating trade ideas. It is part of an extensive suite of functions that allow both corporations and banks to access liquidity from over 300 providers worldwide.
“Bloomberg has been a long-standing and dedicated partner for the Malaysian financial markets, and this approval further cements Bloomberg’s long-term commitment to the Malaysian market. We look forward to supporting the central bank in building a more transparent and efficient FX market. Market participants in Malaysia can access the largest community of FX professionals and users within other asset classes, enabling them to trade multiple currencies from a rich pool of liquidity,” said Tod Van Name, Bloomberg’s Global Head of FX Electronic Trading.

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