Bloomberg Adds EBS Market Transactions to BFIX Spot FX Data Sources

Bloomberg's FX Fixings (BFIX) now includes EBS Market's Spot FX transactions. This expansion aims to strengthen BFIX by incorporating a leading primary market venue's trade data, improving liquidity and transparency. BFIX is a benchmark used by market participants for portfolio benchmarking, derivatives valuation, index construction, and trade execution. The incorporation of EBS Market data is expected to enhance the reliability and representativeness of BFIX, aligning with IOSCO's principles for financial benchmarks.

Bloomberg Index Services Limited (BISL) has announced a significant enhancement to its Bloomberg FX Fixings (BFIX) service, with the inclusion of EBS Market's Spot FX transactions. This expansion aims to bolster the reliability and transparency of BFIX, a benchmark used extensively by market participants for portfolio benchmarking, derivatives valuation, index construction, and trade execution.

The agreement between Bloomberg and CME Group to integrate EBS Market's data into BFIX underscores the importance of the latter as a leading primary market venue. EBS Market's central limit order book provides firm liquidity and no last-look pricing, which are critical for accurate and transparent market indications [1].

Colin Gallagher, BFIX Benchmark & Currency Indices Product Manager at Bloomberg Index Services Limited, highlighted the benefits of this integration. "The trade data from a leading primary market venue like EBS Market will complement our benchmark and strengthen the ability of banks to take on larger orders developing from the buyside on BFIX," he said. This inclusion will provide greater efficiency gains and reduce overall risk for market participants [1].

The addition of EBS Market's data to BFIX aligns with the principles of the International Organization of Securities Commissions (IOSCO), ensuring that the benchmark remains reliable, representative, and transparent for global currency markets. Bloomberg Indices will conduct a market consultation later this year to gather feedback on the integration, with implementation expected in early 2026 [1].

BFIX currently covers over 1,300 spot currency pairs and 3,950 forward and non-deliverable forward (NDF) fixings, offering comprehensive global coverage. The integration of EBS Market's data is expected to further enhance BFIX's ability to provide robust and transparent indications of aggregate market prices.

For more information on BFIX and its methodology, visit the BFIX page. Bloomberg customers can access BFIX offerings in real-time on the Bloomberg Terminal [1].

References:
[1] https://www.prnewswire.com/news-releases/bloomberg-bfix-expands-spot-fx-data-sources-with-inclusion-of-ebs-market-transactions-302506521.html