Bloomberg and Cognotec to deliver Streaming Rates
Bloomberg L.P., and Cognotec, have announced a strategic alliance aimed at bringing the next generation of FX price discovery and execution to the global FX marketplace. Buy side clients looking for FX pricing and execution will now use the BLOOMBERG PROFESSIONAL platform to connect to many of the worlds top market making banks e-commerce pricing engines provided by Cognotec. Bloomberg and Cognotec have been working together since last year and have already introduced a phase one service deployment. This phase allows Bloomberg clients to customize requests for streaming bank name attributed FX prices delivered from banks e-commerce platforms.
In phase two, Bloomberg clients will access real-time, streaming executable rates simultaneously from multiple banks of their choosing. In addition, clients will be able to customise their price requests dynamically based on currency pair, instrument, amount and value date.