ICBC (Asia) Opts for Thomson Reuters FXall and Electronic Trading

ICBC (Asia) Opts for Thomson Reuters FXall and Electronic Trading
17.02.2017 10:15 am

ICBC (Asia) Opts for Thomson Reuters FXall and Electronic Trading

Trading Systems

 After being the first Chinese bank to stream spot CNH price during Asian time zone, ICBC (Asia) is now the first Chinese bank to initiate a 24 hour price streaming on Thomson Reuters platform FXall via Electronic Trading (ET). The move supports increasing demand from clients of ICBC (Asia) to price CNH across Asia as well as facilitate the development and liquidity of the offshore CNH market.

As financial institutions and corporates continue to be impacted by developments and challenges surrounding the internationalization of the RMB, having 24 hour access to pricing information plays a vital role in supporting liquidity of the currency.

Thomson Reuters FXT platform assists ICBC (Asia) in maintaining its position as one of the leading market makers. Electronic Trading provides efficient market making capabilities and allows ICBC (Asia) to price CNH and across Asia with interbank clients.

FXall and Electronic Trading are available on FXT, Thomson Reuters flagship desktop platform. In 2015, Thomson Reuters brought together all of its FX transaction venues onto one platform to create a single point of access to unrivalled liquidity in hundreds of currency pairs. FXT enables market participants to streamline their trading workflow and comply with regulatory trade requirements by providing access to regulated trading venues and a global trade reporting service. Users can connect with the world’s largest professional FX community, with over 14,000 dealing counterparties, 1,500 FXall buy-side liquidity takers and 250,000 Eikon Messenger contacts.

Michael Go, Head of FX Market Development, Asia Pacific at Thomson Reuters said, “ICBC (Asia)’s selection of Thomson Reuters FX solutions, showcases Thomson Reuters achievements in the FX space. As the leading platform provider for offshore electronic CNH and RMB trading, Thomson Reuters sits at the junction of currencies, commerce and regulation globally. In today’s highly fragmented and increasingly scrutinized FX market, Thomson Reuters offers FX solutions that provide transparency, manages trading risk, improves execution efficiency and empowers the financial community.”

Jimmy Jim, Head of Global Markets Department at ICBC (Asia) said, “ICBC (Asia) is the offshore RMB pricing centre of ICBC Group and one of the most active CNH market makers in Asia. Having been nominated by Hong Kong Monetary Authority as Primary Liquidity Provider, ICBC (Asia) has a mission to support the development of offshore CNH market. With the great support from Thomson Reuters FX solutions, ICBC (Asia) has been the first Chinese bank to stream spot CNH price during Asian time zone, and now becomes the first Chinese bank to initiate a 24 hour price streaming; and we believe that ICBC (Asia) will continue to play a leading role in the expanding offshore RMB market.”

Related News

Reuters Events Discuss the Resilience of the Energy Market Through Volatility

Reuters Events will be hosting a free online webinar series focused on commodity trading and commodity value chains.

The energy industry has never seen a year like it.... Read more »

Newfound launches virtual fintech trade mission to stimulate economic growth in UK and Australia

Global expansion specialists Newfound today announced the first ever virtual fintech trade mission between the UK and... Read more »

IPC’s Connexus Cloud ecosystem continues expansion with linkage to London Metal Exchange

IPC, a leading global provider of secure, compliant communications and networking solutions for the global financial markets community, announced today its... Read more »

Cloud9 Chooses OpenFin to Empower “Virtual Trading Desks”

Cloud9 Technologies ("Cloud9"), a leader in cloud-based communications, has partnered with OpenFin, the operating system (OS) of finance, to streamline the deployment of Cloud9... Read more »

QuantHouse to provide TSL machine learning capabilities as part of the QuantFactory cloud backtesting suite

QuantHouse, the global provider of end-to-end systematic trading solutions including... Read more »

AxeTrading and Mosaic Smart Data Collaborate to Unlock Bond Market Insights

AxeTrading, the fixed income trading software provider, and Mosaic Smart Data, the real-time capital markets data analytics company, today announced the... Read more »

Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel