Bloomberg has announced a new tool to help calculate the full cost of foreign exchange trades on FXGO, its electronic trading platform on the Bloomberg Terminal. Pictet Asset Management, a leading independent asset manager, is one of the first Bloomberg clients to use the tool. The supplementary cost analysis tool on FXGO calculates the best overall price in real-time, quickly and easily for the trader, before execution, taking into account any extraneous costs as a direct consequence of the execution.
Tod Van Name, Bloomberg’s Global Head of FX Electronic Trading, said, “Trying to determine the total cost of a trade involves detailed and time-consuming mathematical calculations. We are taking that burden off the client and helping them see the total cost at the point of execution. Moving that capability into the traders’ hands ensures that they have all the information they need to consider from the beginning.”