Bloomberg Announces Derivatives Swaps Trading Platform

Orders from Washington have prompted the development of SEFs for derivatives trading.

Bloomberg has announced the launch of ALLQ Derivatives, a fully integrated trading platform for over-the-counter (OTC) derivatives swaps that aids with regulatory compliance.

Vendor official say ALLQ Derivatives is the foundation for the development of a swap execution facility (SEF), allowing buy-side institutional investors to access indicative prices and execute directly with dealers on the Bloomberg Professional service.

"Bloomberg is the largest independent trading platform for OTC derivatives and we have been actively working with regulators to develop the mandatory clearing and post-trading reporting requirements," says Ben Macdonald, global head of Bloomberg's fixed-income business. "The challenge now is to get the market ready, when we don't know exactly what the regulations will entail. The development of the ALLQ Derivatives platform is a crucial step toward SEF-style trading and the support we are getting in the marketplace is strong."

Under the Dodd–Frank Act, those trading in credit default swaps and other derivatives must do so through SEFs. US regulators are currently finalizing the rules relating to this.

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