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Bloomberg Introduces PowerMatch FX; Electronic Trading Platform for Foreign Exchange.

NEW YORK, LONDON and TOKYO -- Bloomberg, a principle provider of news, data and analysis of financial markets worldwide, announced the completed rollout of Bloomberg PowerMatch FX, a global inter-bank electronic trading platform for FX. PowerMatch FX incorporates a sophisticated multi-layered credit matrix that helps banks define their eligible conterparties and set multiple credit limits by duration. PowerMatch FX also offers users anonymity and sophisticated trading tools designed to help them trade profitably in the volatile FX markets.

Commenting on the product, Andrew Hausman, head of Bloomberg PowerMatch said, "By combining innovative technology with industry standard practices, Bloomberg PowerMatch FX allows traders to trade more efficiently and with more confidence. Credit and risk managers will like that we offer an electronic system for Forwards dealing with a credit matrix that prevents their firm from trading with unapproved counterparts. We are giving the market a new way to look at electronic trading."

Among the features of Bloomberg PowerMatch FX are continuous pricing, anonymous trading, and straight through processing. In addition, tools such as Peg, Reserve, and Reserve-Scaleback allow users to create trading strategies that are unique to electronic FX trading. These features along with monitors that draw pricing, news, and analytics from the Bloomberg database give the FX trader a total solution available only on Bloomberg.

Currencies traded on Bloomberg PowerMatch FX include the Euro, British Pound, Japanese Yen, Swiss Franc and Canadian Dollar.

About Bloomberg

Bloomberg is a global news and information organization. The Company provides economic and financial information to the business community, in addition to supplying various news outlets. Bloomberg has forged a unique position within the financial services industry by providing an unparalleled range of features in a single package, the Bloomberg Professional service. By addressing the demand for investment performance and efficiency through an exceptional combination of information, analytic, electronic trading, and Straight Through Processing tools, Bloomberg has built a worldwide customer base of corporations, issuers, financial intermediaries, and institutional investors. Bloomberg media includes global news, television, radio, Internet, and magazine and book publishing operations with 1,500 reporters and editors in 85 bureaus worldwide. For more information please visit http://www.bloomberg.com/.

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CONTACT: Chris Taylor of Bloomberg L.P., +1-212-318-2660, taylorc@bloomberg.net

Web site: http://www.bloomberg.com/
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Publication:PR Newswire
Geographic Code:1USA
Date:Oct 14, 2002
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