Haier Finance Adopts Bloomberg's Foreign Exchange Electronic Trading Platform

Beijing - 14 February 2017

Sets Industry Standard in Chinese Corporate Treasury Management and Promotes Collaboration between Corporates and Banks 

Haier Finance Co., Ltd has adopted Bloomberg's Foreign Exchange electronic trading platform (FXGO) and Multi-Asset Risk System (MARS) for Foreign Exchange trading and risk management.

A subsidiary of leading Chinese home appliance company Haier Group, Haier Finance is a non-bank financial institution that provides comprehensive financial services including deposits and loans, financial advisory, insurance and investment services. Haier Finance ranks among the top ten finance companies in China and foreign exchange is part of its core business. Haier Finance has been a faithful client of Bloomberg for years and has been using Bloomberg FXGO since 2016.

"Bloomberg's FX solutions have enhanced our efficiency by allowing us to streamline our workflow from front to back," said Zhang Bing, head of Trading at Haier Finance. "On Bloomberg FXGO, we can access real-time executable pricing from multiple banks, click and trade various FX instruments on the best price provided as well as the ability to demonstrate best execution for compliance and reporting purposes. Market transparency and efficiency is vital to the success of our FX business."

Bloomberg's FX solutions provide real-time pricing information integrated with news, data and analytics for traders to monitor the markets, analyse trends and generate trading ideas. More importantly, traders can obtain executable prices simultaneously whilst trading and reporting electronically. Bloomberg FXGO, the FX electronic trading platform, provides access to liquidity from over 300 providers worldwide and commission-free trading for financial institutions, corporations, money managers and hedge funds across all major FX instruments including spot, forwards, options, NDFs and deposits.

"Haier Finance's selection of Bloomberg's FX solutions sets a new benchmark for corporate treasury in China," said Tod Van Name, Bloomberg's Global Head of FX and Commodities Electronic Trading. "Against the backdrop of uncertain global economic outlook and increasing market volatility, corporate treasurers today are under greater pressure. Financial and corporate executives need better solutions to improve workflow, enhance efficiency and reduce costs. We are looking forward to more and more Chinese corporations and market makers collaborating on our FXGO platform."

Haier Finance has also adopted Bloomberg MARS for cross-assets risk management. The system enables the middle and back offices to access real-time data of transactions and analyse yield,

spread and risks. The system integrates Bloomberg's state-of-the-art pricing models, stress testing in different scenarios and other customized functionalities, which allow Haier Finance to undertake more effective risk evaluation and management.

For more information on Bloomberg's FX electronic trading solutions and multi-asset risk systems, please visit {FXGO<GO>} or {MARS<GO>} on the Bloomberg Professional service or contact Bloomberg Customer Support team.

Approved by People's Bank of China, Haier Finance Co., Ltd was established in 2002 and was one of the first non-bank financial institutions licensed to operate both RMB and foreign exchange businesses in China. It provides a full range of financial services for Haier Group. Haier is a world's leading home appliance provider, headquartered in Qingdao, Shandong Province, China. It has been named the number one global home appliance brand by Euromonitor International, a world leader in strategy research for consumer markets.

Bloomberg, the global business and financial information and news leader, gives influential decision makers a critical edge by connecting them to a dynamic network of information, people and ideas. The company’s strength – delivering data, news and analytics through innovative technology, quickly and accurately – is at the core of the Bloomberg Professional service. Bloomberg’s enterprise solutions build on the company’s core strength: leveraging technology to allow customers to access, integrate, distribute and manage data and information across organizations more efficiently and effectively. 

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