Medibank Selects Bloomberg for FX Needs

Medibank covers almost one third of the Australian health insurance market.

Medibank Private Limited has selected Bloomberg's foreign exchange (FX) platform to manage its $2.5 billion portfolio.

Medibank is the largest private health insurer in Australia, and is already a client of Bloomberg Professional Service. Using the FXGO function, it will be able to manage risk, execute trades and use requests for quotes (RFQs) in swaps, forwards, options and deposits.

"Bloomberg's FXGO is the most efficient way of managing our FX risk," says Graeme Sala, treasurer at Medibank. " Like a lot of other companies, we were using the phone to trade and waiting for the confirmation call. In the meantime, the markets could move significantly. FXGO ensures that trades happen immediately, the confirmation goes to our back office and sends it to our custodian, all in one step."

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