Bloomberg Index Services Limited has announced a new agreement with Euronext FX to incorporate transaction data from Euronext FX’s Spot FX and Precious Metals markets into its Bloomberg FX Fixings (BFIX) benchmark offering. The integration of this data, known as Euronext FX Prints, is intended to strengthen the reliability, transparency, and representativeness of the BFIX benchmarks used across global currency markets.
BFIX is widely used by financial institutions, investors, and market participants as a reference for foreign exchange pricing. By adding transaction-level data from Euronext FX’s trading platform, Bloomberg aims to enhance the benchmark’s ability to reflect real market activity and liquidity. This additional source of transaction data will help improve the accuracy of BFIX rates and support market participants who rely on these benchmarks to execute trades efficiently.
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Colin Gallagher, BFIX Benchmark and Currency Indices Product Manager at Bloomberg Index Services Limited, explained that incorporating transaction data from a major market venue such as Euronext FX strengthens the benchmark’s overall robustness. According to Gallagher, drawing data from a broader range of trading activity helps ensure that BFIX reflects a wider spectrum of market liquidity while supporting traders and institutions that execute orders based on the benchmark.
The inclusion of FX transaction data also improves the ability of market participants to match or replicate BFIX rates when executing trades. This capability can help reduce operational risk while improving efficiency in trading workflows. For organizations that depend on benchmark-based pricing for foreign exchange transactions, more comprehensive market data can provide greater confidence in the benchmark’s accuracy.
Euronext FX CEO Nicolas Jegou emphasized that the collaboration reflects the platform’s commitment to supporting transparent and resilient financial benchmarks. As Euronext FX continues to expand its presence in global currency markets, its transaction data has become increasingly relevant to institutions seeking reliable and representative market insights. By contributing this data to Bloomberg’s BFIX benchmark, the company aims to support stronger market infrastructure and improved pricing transparency.
Bloomberg Indices will conduct a market consultation before implementing the changes to the BFIX methodology. This consultation process will gather feedback from market participants regarding the integration of Euronext FX Prints data. Depending on the outcome of this review, the updated methodology is expected to be implemented later this year.
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The BFIX benchmark family covers a wide range of foreign exchange instruments, including spot, forward, and non-deliverable forward (NDF) rates. Together, these benchmarks provide comprehensive coverage of global currencies and precious metals markets. BFIX currently produces more than 1,300 spot currency pair fixings and approximately 3,950 forward and NDF fixings, making it one of the most extensive FX benchmark systems available.
These benchmarks are designed to comply with the United Kingdom’s Benchmark Regulation (UK BMR) and follow the principles established by the International Organization of Securities Commissions (IOSCO) for financial benchmarks. As a result, BFIX is widely used across the financial industry for a variety of applications, including portfolio benchmarking, derivatives valuation, index construction, and trade execution.
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By integrating Euronext FX transaction data into the BFIX framework, Bloomberg aims to further enhance the benchmark’s transparency and market relevance. The move reflects a broader trend within financial markets toward greater reliance on transaction-based data sources to strengthen benchmark accuracy and maintain trust among global market participants.
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