Bloomberg offers auto-RFQ chat feed—but banks want a bigger prize
Traders hope for unfettered access to IB chat so they can build their own AI-enhanced trading tools
Every day, thousands of bilateral trades in cash and derivative instruments are arranged via Bloomberg instant messages on the tech firm’s ubiquitous terminals, with parties sending out requests for quotes (RFQs), haggling over prices, and exchanging market color.
However, the process is often cumbersome, requiring salespeople to manually cut and paste information between chat windows. This slows down pricing and results in patchy data capture.
But moves by Bloomberg to offer automated RFQ
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