Vodafone Hutchison Australia (VHA), a 50:50 joint venture between telecommunications groups Vodafone and Hutchison 3G, has selected Bloomberg’s foreign exchange trading platform (FXGO) to manage exchange rate risk.
Bloomberg claim that VHA is among a growing number of corporations using FXGO to manage foreign exchange (FX) risk, execute FX trades and get requests for quotes. FXGO is part of the Bloomberg Professional service platform, which is also used by VHA’s corporate relations, marketing, product development, risk and compliance units for market data, counterparty risk information, economic data and pricing information.
Robert Parts, VHA’s external treasury manager, said that the company had chosen FXGO after “rigorous comparison” and found that it provided a better service in providing a number of different quotes from the main banks. “Auditing trades is also much easier with the enhanced transparency of being able to assess all bank prices before we trade,” he added.
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