HONG KONG--(BUSINESS WIRE)--Asia Risk, the leading magazine for risk and derivatives professionals in the Asia-Pacific (APAC) region, has named Bloomberg LP the 'Technology Company of the Year 2011.' The award recognizes Bloomberg for creating innovative technology, data and analytics that increased participation and investment in the APAC derivatives markets.
Asia Risk staff and Asian investors selected Bloomberg for the top award for several achievements including:
• Leading the evolutional of the new offshore renminbi (CNH) market by creating an industry working group for the introduction of new data, yield curves and reference rate services;
• Developing a new code (CNH) to distinguish the offshore renminbi from the onshore renminbi (CNY) with the Bank of China, HSBC and Standard Chartered. Bloomberg adopted the CNH code, captured its price history and introduced a CNH bond listing and bond index. The company also held a series of educational events on the new market;
• Helping to define the new CNY derivatives market by initiating an industry working group of regulators, banks and market participants and being first-to-market with onshore CNY tools and data for portfolio valuation and risk analysis by the time the market launched in April of this year.
"CNH is a young market that has only developed since 2010. It is always difficult for traders working in this kind of market, because liquidity is poor and the market is less transparent. Bloomberg has done a good job in helping us tackle these issues," an official at one of the big four Chinese state-owned commercial banks says in the Asia Risk article.
Matthew Rees, Bloomberg's Head of Sales for APAC, said, “This award is a testament to Bloomberg's commitment to supporting transparency and openness in the global capital markets. The APAC region is a critical market for Bloomberg. This award recognizes our leadership in developing comprehensive and leading-edge technology, data and analytics."
Since 2000, Asia Risk magazine (www.risk.net/asia-risk) annually recognizes institutions and individuals for their excellence in the field of financial risk management and derivatives. The awards cover more than 30 categories, commending excellence across asset classes such as equities, credit, currencies, interest rates and energy/ commodities; local markets; and product and service providers. In determining the winner of The 'Technology Company of the Year,' Asia Risk interviewed market participants who acknowledged Bloomberg's important role in Asian financial markets.
Bloomberg continues to grow and now has 35 offices across Asia Pacific. For more information on Bloomberg's financial and technology products and services, please visit http://www.bloomberg.cn, http://www.Bloomberg.co.jp, http://www.bloomberg.com or call customer service at + 852-2977-6000.
About Bloomberg
Bloomberg, the global business and financial information and news leader, gives influential decision makers a critical edge by connecting them to a dynamic network of information, people and ideas. The company's strength - delivering data, news and analytics through innovative technology, quickly and accurately - is at the core of the Bloomberg Professional service, which provides real time financial information to more than 310,000 subscribers globally. Bloomberg's enterprise solutions build on the company's core strength, leveraging technology to allow customers to access, integrate, distribute and manage data and information across organizations more efficiently and effectively. Through Bloomberg Law, Bloomberg Government, BNA and Bloomberg New Energy Finance, the company provides data, news and analytics to decision makers in industries beyond finance. And Bloomberg News, delivered through the Bloomberg Professional service, television, radio, mobile, the Internet and two magazines, Bloomberg Businessweek and Bloomberg Markets, covers the world with more than 2,300 news and multimedia professionals at 146 bureaus in 72 countries. Headquartered in New York, Bloomberg employs more than 15,000 people in 192 locations around the world.