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Screenshot of a breaking news alert e-mail from Q2 2017
The Central Bank of Azerbaijan announced that has chosen to conduct its auctions for foreign exchange (FX) instruments and deposits through Bloomberg’s auction platform, officials announced today.
Designed to help central banks and finance ministries manage primary market operations, the platform has been recently extended to include FX instruments (spot and outright) and deposits, in addition to its pre-existing suite of fixed income and repo products.
Bloomberg’s auction platform provided us with advanced experience in handling FX and deposit auctions with its flexible, swift and multi-purpose auction techniques, thus becoming a single platform for those monetary operations conducted by the Central Bank,” says Ali Ahmadov, Director of Market Operations Department of the Central Bank of Azerbaijan.
We are very pleased to be working with the Central Bank of Azerbaijan and offering a platform that enables a step change in the management of monetary operations,” says Tod Van Name, Bloomberg’s Global Head of FX Electronic Trading. “The platform provides an optimal and cost-effective way to conduct auctions for FX instruments and deposits in the local market — all within a single, comprehensive solution.
Bloomberg’s multi-asset auction platform helps market participants track central bank auctions and enter bids. It is part of an extensive suite of functionalities that allow central banks to auction off their debt, FX, repos and depositary notes to market participants.
Auction data will go into Bloomberg’s FX electronic trading platform, FXGO. Available to subscribers of Bloomberg Professional Services, the system is fully integrated with Bloomberg’s data, news, analytics and communications tools.