Bloomberg and Goldman Sachs Team Up on Foreign Exchange Analytics

Bloomberg LLP is teaming up with Goldman Sachs Group Inc. to feature some of the investment bank’s trading analytics on a new service the financial information company launched for foreign exchange trades made using algorithms. Goldman is the first bank to have such a partnership with Bloomberg, and the tie-up will make its analytics visible on Bloomberg’s terminal in FXGO, a global foreign exchange trading platform. Trading clients are demanding greater access to decision-making tools like Goldman’s analytics, as the industry faces increasing pressure to cut costs, increase speed and prove that every trade is executed in the most efficient way possible. The new tool is aimed at breaking down barriers between companies that previously may not have worked together in this way, both companies said. The service on FXGO’s execution manager allows clients to manage incoming orders and then to route those orders to liquidity providers. Bloomberg said it is open to similar partnerships with other banks, and that FXGO is open to any liquidity providers.