Philippines bankers partner Bloomberg on FX initiatives
Bloomberg has been selected as the calculation agent for USD/PHP and bankers will use FXGO for spot trading
The Bankers Association of the Philippines has appointed Bloomberg as the new calculation agent for the dollar/peso spot reference rate – one of several initiatives the two will undertake to expand the country’s foreign exchange market.
The firms announced the partnership on April 2, stating Bloomberg will calculate the USD/PHP spot reference rate, based on trades carried out by BAP member banks. The results will be available on the BAP website and Bloomberg Terminal.
Prior to Bloomberg, BAP
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