Bloomberg has launched Bridge AXE, an extension of the firm’s Bridge intermediated workflow, which allows participants to anonymously post to other Bridge participants, and identify trading interests using Bloomberg’s liquidity discovery tools.
The launch of Bridge AXE forms part of Bloomberg’s investment in liquidity discovery tools designed to facilitate efficient communication between the buy- and sell-sides. Bridge AXE allows the buy-side to discreetly propose, identify, and engage with trading interests from other Bloomberg Bridge participants. Participants can then launch targeted RFQs into Bloomberg’s trading venues/systems to begin an intermediated negotiation – anonymous to the axe contributors.
Katharine Furber, head of emerging markets trading at Bloomberg, said: “Bridge AXE supports the growing role of the buy-side as price makers in all-to-all trading, as they can now contribute trading interests anonymously to the Bloomberg Bridge network. We believe that Bridge AXE gives users increased flexibility on how they transfer risk and will build upon the continued success of Bloomberg Bridge
“Clients are increasingly looking to Bloomberg to help them identify and remain informed about evolving liquidity trends and insights. Bridge AXE is yet another milestone demonstrating Bloomberg’s commitment to maximising the capabilities that an all-to-all network affords”.
AXE follows the launch of Bloomberg Bridge in Q2 2022, which has grown to more than 650 active client firms and has seen average monthly negotiated volume growth of 16% as of August 2023.
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