Bloomberg Index Services Limited (BISL) has announced a deal
with CME Group to include spot FX transactions from EBS Market in its Bloomberg
FX Fixings (BFIX). The change is intended to enhance the benchmark’s
transparency, accuracy, and alignment with real-market pricing.
Primary Market Data to Deepen Liquidity
The inclusion of EBS Market data—a primary, regulated, and
anonymous FX trading venue—will reportedly provide greater depth and liquidity to the BFIX
benchmark. BISL plans to hold a market consultation later this year, with full
implementation expected in early 2026, depending on industry feedback.
Colin Gallagher, Product Manager for BFIX at Bloomberg, said
the agreement would help banks manage larger buy-side orders by providing a
broader pool of market liquidity.
“The trade data from a leading primary market venue
like EBS Market will complement our benchmark and strengthen the ability of
banks to take on larger orders developing from the buyside on BFIX,” he said. “We’re very happy to expand our distribution with CME
Group to capture a broader pool of market liquidity, which enhances the
benchmark.”
CME Group’s EBS platform offers firm pricing without last
look, a feature that strengthens the benchmark’s reliability. “Incorporating
EBS Market data into BFIX ensures clients have the most robust and transparent
indication of aggregate market prices,” said Paul Houston, Global Head of FX at
CME Group.
Aggregate Market Prices
BFIX publishes over 1,300 spot currency pairs and
nearly 4,000 forward and NDF fixings. The benchmark, which is UK BMR compliant
and IOSCO-aligned, is widely used for portfolio benchmarking, derivatives
pricing, index construction, and trade execution.
By bringing in transaction-level data from EBS Market,
Bloomberg aims to position BFIX as a more representative and trade-driven FX
benchmark for institutional use.
Recently, Trading Technologies expanded its foreign exchange
capabilities by integrating with EBS Market. According to the company the move enables
users of TT’s execution management system to trade spot FX, precious metals, and
non-deliverable forwards on a primary FX liquidity venue offering anonymous,
regulated, all-to-all matching.
Commenting about the move, TT said the integration responds
to growing demand from institutional and professional retail traders for
seamless, multi-asset access. The platform’s EMS supports advanced trading
strategies through tools such as Autospreader and the ADL algorithmic design
lab.
Bloomberg Index Services Limited (BISL) has announced a deal
with CME Group to include spot FX transactions from EBS Market in its Bloomberg
FX Fixings (BFIX). The change is intended to enhance the benchmark’s
transparency, accuracy, and alignment with real-market pricing.
Primary Market Data to Deepen Liquidity
The inclusion of EBS Market data—a primary, regulated, and
anonymous FX trading venue—will reportedly provide greater depth and liquidity to the BFIX
benchmark. BISL plans to hold a market consultation later this year, with full
implementation expected in early 2026, depending on industry feedback.
Colin Gallagher, Product Manager for BFIX at Bloomberg, said
the agreement would help banks manage larger buy-side orders by providing a
broader pool of market liquidity.
“The trade data from a leading primary market venue
like EBS Market will complement our benchmark and strengthen the ability of
banks to take on larger orders developing from the buyside on BFIX,” he said. “We’re very happy to expand our distribution with CME
Group to capture a broader pool of market liquidity, which enhances the
benchmark.”
CME Group’s EBS platform offers firm pricing without last
look, a feature that strengthens the benchmark’s reliability. “Incorporating
EBS Market data into BFIX ensures clients have the most robust and transparent
indication of aggregate market prices,” said Paul Houston, Global Head of FX at
CME Group.
Aggregate Market Prices
BFIX publishes over 1,300 spot currency pairs and
nearly 4,000 forward and NDF fixings. The benchmark, which is UK BMR compliant
and IOSCO-aligned, is widely used for portfolio benchmarking, derivatives
pricing, index construction, and trade execution.
By bringing in transaction-level data from EBS Market,
Bloomberg aims to position BFIX as a more representative and trade-driven FX
benchmark for institutional use.
Recently, Trading Technologies expanded its foreign exchange
capabilities by integrating with EBS Market. According to the company the move enables
users of TT’s execution management system to trade spot FX, precious metals, and
non-deliverable forwards on a primary FX liquidity venue offering anonymous,
regulated, all-to-all matching.
Commenting about the move, TT said the integration responds
to growing demand from institutional and professional retail traders for
seamless, multi-asset access. The platform’s EMS supports advanced trading
strategies through tools such as Autospreader and the ADL algorithmic design
lab.
