Wednesday, June 27, 2012

XGD Greek Drachma on Bloomberg Terminal getting ready to trade

ORIGINAL POST, SEE UPDATES BELOW: We're looking into this, but we can confirm: There's something called the 'Greek Drachma (post Euro)' that's shown up on the Bloomberg terminal.
There's nothing really behind the ticker. No quotes or anything. It's just there.

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@russian_market / It′s really weird to see Drachma back on Bloomberg $XGD
@russian_market / It's really weird to see Drachma back on Bloomberg $XGD

Traders around the world have been staring at their Bloomberg screens, hardly believing their eyes. The electronic information platform has been showing details for possible Greek Drachma trading.
The Bloomberg helpdesk described it as "an internal function which is set up to test."
The news comes in the wake of the heated discussions over the future of the euro zone and the membership of Greece. While many experts insist that Greece should leave the Euro and default, some suggest it should remain the union and introduce a parallel currency to the Euro to repay the country’s debt.