LBC Express adopts Bloomberg's forex trading platform

LBC Express Holdings has adopted Bloomberg's foreign exchange electronic trading platform (FXGO) for its treasury functions.

"As LBC seeks to expand and grow, Bloomberg FXGO is a platform that will allow us to make FX trading, hedging, and investment decisions quickly," Enrique Rey Jr., CFO of LBC Express Holdings Inc., said on Monday.

LBC provides logistics services via a network of 1,000 branches nationwide. It also has branches in North America, the Middle East, Asia Pacific, Europe, and Oceania.

With FXGO, LBC will have access to real-time pricing information integrated with news, data, and analytics for traders to monitor markets, analyze trends, and generate trading ideas.

"We can now access real-time executable pricing from multiple banks, click and trade various FX instruments on the best price provided as well as use compliance and reporting tools for effective tracking," Rey said.

For its part, Bloomberg welcomed the latest development.

"LBC has set a new benchmark for corporate treasury in the Philippines," Bloomberg APAC FX sales strategy Grant Coombe said.

"Today, nearly 75 percent of FX trading globally is done electronically, which will continue to increase especially in emerging markets as e-trading improves deal capture and risk management," he said. — Jon Viktor Cabuenas/VDS, GMA News