Vodafone Hutchison Australia PTY LTD (VHA), a 50/50 joint venture between Vodafone, the world’s leading mobile telecommunications company and Hutchison 3G, has selected Bloomberg’s Foreign Exchange trading platform (FXGO) to manage exchange rate risk.
VHA is among the growing number of corporations using FXGO to manage foreign exchange risk, execute FX trades and get requests for quotes. FXGO is part of the Bloomberg Professional service platform, which is also used by VHA’s Corporate Relations, Marketing, Product Development, Risk and Compliance units for market data, counterparty risk information, economic data and pricing information.
“We have found Bloomberg to be the best platform to manage our FX risk and now trade exclusively on FXGO,” said Robert Parts, VHA’s External Treasury Manager. “After rigorous comparison, we found Bloomberg provides a better service, giving us a number of different quotes from the main banks. Auditing trades is also much easier with the enhanced transparency of being able to assess all bank prices before we trade,” he added.
Tod Van Name, global head of Bloomberg’s FX business, said, “Corporate executives around the world are finding that FXGO is giving them an extra edge in today’s challenging marketplace. Bloomberg FXGO is a commission-free electronic trading platform and its quality rates, data transparency and robust trading is making it the platform of choice for corporate treasurers.”
“Vodafone is a leading company that is managing FX exposure seamlessly and cost-effectively, across the organization,” said Amanda Dobbie, Bloomberg’s Head of Sales for Australia and New Zealand. “With FXGO, Vodafone and other companies can get prices from a range of preferred banks, execute trades and integrate their trading activities with their risk, order management and back office systems – all on one platform.”
I really like the idea of multiple banks giving quotes on Forex trades. Good information in this article.
Paul