Bloomberg Multilateral Trading Facility Launches Following FCA Approval

Bloomberg Trading Facility receives UK Financial Conduct Authority to trade interest rate swaps and credit default swaps.

City of London
Bllomberg's MTF is based in London.

Bloomberg affiliate Bloomberg Trading Facility (BTF) has been given the green light to trade interest rate swaps and credit default swaps after receiving authorization from the UK Financial Conduct Authority.

The platform will utilize existing Bloomberg technologies for interest rate and credit default swaps, as well as request for quote and order book functionalities, before Mifid II obligations on trading for certain derivatives come into force in 2017.

"Bloomberg's MTF trading platform is a key addition to the portfolio of services we are providing our clients to enable them to meet their regulatory obligations, and will provide for a seamless transition into the MiFID II regulatory environment," says Jean-Paul Zammitt, CEO, BTF and global head of financial products services division, Bloomberg.

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