FIX Finishes TESI Extension to FX

Paul Tivnann at Bloomberg
Paul Tivnann, Bloomberg

The industry group says its Trading Enablement Standard Initiative (TESI) will now be available for foreign exchange (FX) client enablement.

The extension comes after last year's initial TESI design and implementation, which provided the FIX standard to manage the complex process of enabling clients on fixed income trading platforms. As a result of close collaboration within the FX community, TESI is now available to clients using FX execution platforms for FX spot, forwards, swaps, FX options, non-deliverable forwards (NDFs), and precious metals trading.

By using TESI, FX market participants can change pricing streams, map accounts, authorise new instruments, or even suspend clients for trading and a message will be automatically distributed to all relevant parties using a standard protocol.

“We have been using technology to provide efficient solutions for our customers and increase financial market standardisation since Bloomberg's founding more than 30 years ago. We support TESI because it helps further promote these goals," says Paul Tivnann, Bloomberg's head of FX and commodities trading.

Etrading Software and Thomson Reuters joined Bloomberg as lead tech providers working on the project.

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