Bloomberg Unveils Enhancement to FX Execution Offering in Wake of T+1

Bloomberg Index Services Unveiled its Bloomberg FX Fixings (BFIX) offering, the first benchmark on a value T+1 basis in the market. The service will allow users to send FX orders into executing counterparts without being present in the time zone in question. Though sell-side banks offer this service via their forwards desk, the BFIX T+1 benchmark allows for a minimised impact on banks’ credit facilities when done at scale, according to Bloomberg. The initial launch extends to 20 deliverable currencies globally, including USD, GBP, HKD, EUR, and JPY among others.