Haier Finance Co., Ltd today revealed the company has adopted Bloomberg’s Forex electronic trading platform (FXGO) and Multi-Asset Risk System (MARS) for FX trading and risk management.
Haier Finance ranks among the top ten finance companies in China and foreign exchange is part of its core business.
A subsidiary of leading Chinese home appliance company Haier Group, Haier Finance is a non-bank financial institution that provides comprehensive financial services including deposits and loans, financial advisory, insurance and investment services.
Zhang Bing, head of Trading at Haier Finance stated:
Bloomberg’s FX solutions have enhanced our efficiency by allowing us to streamline our workflow from front to back. On Bloomberg FXGO, we can access real-time executable pricing from multiple banks, click and trade various FX instruments on the best price provided as well as the ability to demonstrate best execution for compliance and reporting purposes. Market transparency and efficiency is vital to the success of our FX business.
Bloomberg’s FX solutions provide real-time pricing information integrated with news, data and analytics for traders to monitor the markets, analyze trends and generate trading ideas.
More importantly, traders can obtain executable prices simultaneously whilst trading and reporting electronically.
Bloomberg FXGO, the FX electronic trading platform, provides access to liquidity from over 300 providers worldwide and commission-free trading for financial institutions, corporations, money managers and hedge funds across all major FX instruments including spot, forwards, options, NDFs and deposits.
Tod Van Name, Bloomberg’s Global Head of FX and Commodities Electronic Trading said:
Haier Finance’s selection of Bloomberg’s FX solutions sets a new benchmark for corporate treasury in China.
Against the backdrop of uncertain global economic outlook and increasing market volatility, corporate treasurers today are under greater pressure. Financial and corporate executives need better solutions to improve workflow, enhance efficiency and reduce costs. We are looking forward to more and more Chinese corporations and market makers collaborating on our FXGO platform.