Bloomberg, a global provider of business and financial information, has launched Bridge AXE, an extension of the Bloomberg Bridge intermediated workflow which allows participants to anonymously post to other Bridge participants, and identify trading interests using Bloomberg’s existing liquidity discovery tools.
Bridge AXE will allow the buy-side to discreetly propose, identify, and engage with trading interests from other Bloomberg Bridge participants. Participants can then launch targeted RFQs into Bloomberg’s trading venues/systems to begin an intermediated negotiation – anonymous to the axe contributors.
The product launch comes as Bloomberg continues to invest in liquidity discovery tools to facilitate efficient communication between the buy- and sell-sides and extends into pre-trade price discovery in connection with an all-to-all environment.
Bloomberg Bridge was launched in Q2 2022, which has grown to more than 650 active client firms since and has seen average monthly negotiated volume growth of 16% as of August 2023.
