Bloomberg has introduced MYQ, a price monitoring tool that displays FX quotes detected by Bloomberg’s NLP within a user’s Instant Bloomberg (IB) chats. The solution provides each user with insights into the FX liquidity available to them and improves price discovery through an overview of incoming quotes from a user’s chats with counterparties. The solution is designed to help an FX market participant maximize efficiency in their pre-trade workflow by taking fragmented pricing communications across their multiple IB chats and displaying them in a centralized, FX curve-style format that quickly groups quotes by currency pairs, tenors, and bid/offer levels.
Ed Loftus, Head of FX Relative Value and Applications at Bloomberg, said: “FX market participants often need to sift through massive quantities of fragmented pricing data across dozens of applications just to source the right liquidity to meet their objectives. By harnessing Bloomberg’s NLP to structure chat-based quotes within the MYQ solution, we are transforming how clients quickly find prices and streamline FX trade negotiation.”
