The Central Bank of Azerbaijan (CBA) has announced it has adopted Bloomberg’s FXGO solutions to provide electronic trading functionality for participants in the Azerbaijani foreign exchange and money markets. The offering includes market surveillance tools for the CBA, as well as BMatch, a solution for interbank trading in the local foreign exchange market, and a deposit trading solution. BMatch offers spot matching functionality to the interbank community for several locally traded currency crosses. It allows anonymous orders to be placed into a central limit order book, which are displayed and then matched with counterparty orders based on mutual trading limits configured by each bank. “We are delighted to expand our FXGO offering in Azerbaijan in partnership with the Central Bank of Azerbaijan which will contribute to increasing the transparency, liquidity and efficiency of the local market,” said Tod Van Name, Bloomberg’s Global Head of FX Electronic Trading. “Markets need robust technical infrastructure solutions that are tailored to local market requirements, and our extensive experience in supporting foreign exchange and deposit trading in many countries around the world allows us to provide solutions that can readily be adapted to the needs and requirements of institutions such as the Central Bank.”
