Haier Finance Signs Up Bloomberg’s Forex Digital Trading Platform
Haier Finance Co., Ltd has recently announced that it has signed up with Bloomberg for its forex trading and risk management business. The non-bank financial institution is a subsidiary of Chinese home appliance giant Haier Group which is based in Shandong Province’s city of Quingdao. The company will now be using Bloomberg’s Multi-Asset Risk System (MARS). in addition to its forex trading platform (FXGO) which it has been using since 2016.
Haier Finance is one of the biggest players in China’s fast expanding finance services industry. It provides a wide range of services in the fields of insurance, financial advisory, foreign exchange, and also loans and deposits.
Bloomberg and Haier Finance have had a long term and mutually beneficial association that goes back many years. The Chinese company’s Head of Trading, Zhang Bing, pointed out that it has achieved increased efficiencies thanks to Bloomberg’s well-designed FX solutions which have brought about streamlined workflows. FXGO permits access to real-time pricing from a number of banks to get the best possible deals. It also allows quick and easy trades on different forex instruments at the most profitable prices. The platform also enables the highest level of transparency by providing support for reporting and compliance.
Traders will be happy to use Bloomberg’s forex trading platform because it provides them with a wide range of tools necessary to be successful. First and foremost, they will get executable prices in real time while they are buying and selling currencies. Not only is the real-time pricing very accurate but it also comes with data and analytics that enable the market to be studied thoroughly. Traders also get the latest news that enables them to recognize trends as they happen.
The other advantage of Bloomberg FXGO is that it enables access to 300 different liquidity providers from different parts of the world. Businesses, financial institutions, hedge funds, and money managers will be able to trade across all the leading forex instruments without having to pay commissions. The different trading options include options, forwards, spots, deposits and NDFs.
Tod Van Name Global Head of FX and Commodities Electronic Trading at Bloomberg is optimistic about signing up with additional Chinese companies for its FXGO platform thanks to Haier Finance’s decision to partner with it. In fact, he believes that the partnership between the two countries will set the standard for how the corporate treasury business is conducted in China. He reiterated that the FXGO platform enables executives to increase efficiencies and deliver results in the light of global economic uncertainties and massive market volatilities.
The choice of Bloomberg MARS is also a very good one since it is very effective for risk management. It provides access to information regarding trading transactions so that yield can be analysed. The system permits a high level of customization as well, which makes it even more effective for risk management.
About Haier Finance Co. Ltd
The company was set up in 2002 subsequent to approval from the People’s Bank of China to offer a complete range of financial services for its parent home appliance company. It is a pioneer among non-bank financial institutions in that it was licensed to trade in RMB as well as foreign currencies.
About Bloomberg L.P.
Founded by Michael Bloomberg and others, the company is one of the best-known names for international financial and business information. It is popular with decision makers because it gives them an edge by providing reliable information in real time. Bloomberg’s enterprise solutions make use of technology to give customers valuable information and the means to manage it in the most effective manner.