Bloomberg Index Services Limited (BISL) has announced a deal with CME Group to include spot FX transactions from EBS Market in its Bloomberg FX Fixings (BFIX). The change is intended to enhance the benchmark’s transparency, accuracy, and alignment with real-market pricing.\n\nThe inclusion of EBS Market data—a primary, regulated, and anonymous FX trading venue—will reportedly provide greater depth and liquidity to the BFIX benchmark. BISL plans to hold a market consultation later this year, with full implementation expected in early 2026, depending on industry feedback.\n\nColin Gallagher, Product Manager for BFIX at Bloomberg, said the agreement would help banks manage larger buy-side orders by providing a broader pool of market liquidity. \"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. \"We're very happy to expand our distribution with CME Group to capture a broader pool of market liquidity, which enhances the benchmark.\" \n\nCME Group’s EBS platform offers firm pricing without last look, a feature that strengthens the benchmark’s reliability. \"Incorporating EBS Market data into BFIX ensures clients have the most robust and transparent indication of aggregate market prices,\" said Paul Houston, Global Head of FX at CME Group.\n\nBFIX publishes over 1,300 spot currency pairs and nearly 4,000 forward and NDF fixings. The benchmark, which is UK BMR compliant and IOSCO-aligned, is widely used for portfolio benchmarking, derivatives pricing, index construction, and trade execution.\n\nBy bringing in transaction-level data from EBS Market, Bloomberg aims to position BFIX as a more representative and trade-driven FX benchmark for institutional use.\n\nRecently, Trading Technologies expanded its foreign exchange capabilities by integrating with EBS Market. According to the company, the move enables users of TT’s execution management system to trade spot FX, precious metals, and non-deliverable forwards on a primary FX liquidity venue offering anonymous, regulated, all-to-all matching.\n\nCommenting about the move, TT said the integration responds to growing demand from institutional and professional retail traders for seamless, multi-asset access. The platform’s EMS supports advanced trading strategies through tools such as Autospreader and the ADL algorithmic design lab.

Bloomberg to Add EBS Spot FX Data to Benchmark in Deal With CME Group

Bloomberg Index Services Limited (BISL) has entered a deal with CME Group to include spot FX transactions from EBS Market in its Bloomberg FX Fixings (BFIX) benchmark. The agreement aims to enhance transparency, accuracy, and market alignment by incorporating data from a regulated, anonymous FX trading venue. Full implementation is expected in early 2026 after a market consultation. CME Group’s EBS platform, known for firm pricing without last look, will strengthen BFIX’s reliability. Trading Technologies also expanded its FX capabilities by integrating with EBS Market.