Foreign exchange market chooses Bloomberg FXGO’s Electronic Matching System

Tuesday, 4 March 2025 03:33 - - {{hitsCtrl.values.hits}}

Bloomberg yesterday announced that the foreign exchange market in Sri Lanka has chosen its BMatch solution for interbank trading in the local spot foreign exchange market.

FXGO’s BMatch solution offers matching functionality to the local interbank community for spot US Dollar against the Sri Lankan Rupee (LKR).

BMatch allows anonymous orders to be placed into a central limit order book, which are displayed and then matched with counterparty orders based on mutual trading limits and other parameters configured by each bank. The solution can be integrated with banks’ middle and back-office systems. Consolidated trade statistics can also be calculated and made available to the market.

BMatch in Sri Lanka is operated by Tradebook Singapore.

Bloomberg South Asia Head Rajiv Mirwani said: “Robust and efficient financial markets will play a key role in the future growth of Sri Lanka’s economy. Bloomberg is well-placed to provide technical infrastructure solutions for foreign exchange markets and can easily adapt these to the specific needs of any market around the world. We are delighted to support the foreign exchange market in Sri Lanka with our BMatch solution, which will help boost liquidity in the local foreign exchange market while making it more transparent and efficient.”

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