Bloomberg introduced MYQ, a price monitoring tool that displays FX quotes detected by Bloomberg's NLP within a user's Instant Bloomberg (IB) chats. The solution provides each user with insights into the FX liquidity available to them and improves price discovery through an overview of quotes from a user's chats with counterparties.

The solution is designed to help an FX market participant maximize efficiency in their pre-trade workflow by taking their fragmented pricing communications across their multiple IB chats and, at the user's configuration, displaying them in a centralized, FX curve-style format that quickly groups quotes by currency pairs, tenors, and bid/offer levels. MYQ helps traders simplify price discovery and streamline the decision-making process ahead of execution on separate trading solutions such as FXGO, Bloomberg's award-winning multi-bank FX trading platform.

In the FX markets, many prices originate in chats where participants negotiate trades. Traders currently face the "swivel chair" challenge, constantly moving between multiple applications, communications systems, and chat rooms to assess pricing, determine which counterparties' quotes are most relevant, and validate market interest. This manual process results in:

• operational inefficiency with friction and delays that can lead to missed opportunities in fast-moving FX markets,
• lack of liquidity as workflow obstacles can impede access to pricing data and deteriorate in market depth,
• missed opportunities with potential failures to identify or respond to chat-based quotes and consistently secure the best available price.

MYQ displays FX quotes detected by Bloomberg's NLP within a user's Instant Bloomberg (IB) chats so that users can streamline discoverability, tailor their user experience and improve communication efficiency. With this Bloomberg NLP-enhanced workflow, each user gains insights into the FX liquidity available to them so they can increase their price discovery with an overview of the quotes from their chats with counterparties.