Bank of China Hong Kong (BOCHK) has announced that it will be adopting Thomson Reuters Electronic Trading and FXall via the FX Trading (FXT) Platform. BOCHK’s treasury, sales and trading departments will use Thomson Reuters FX solutions to increase access to liquidity, streamline workflows and improve efficiency.
FXall and Electronic Trading are available on FXT, a Thomson Reuters Corp (TSE:TRI) 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 by including compliance tools, straight-through processing, confirmations as well as settlement and trade history reports. It helps market participants comply with regulatory trade requirements by providing access to regulated trading venues and a global trade reporting service.
Trading over $350 billion in average daily FX volumes, FXT users can also connect with the world’s largest professional FX community, with over 14,000 dealing counterparties, 1,500 FXall buy-side liquidity takers including regional banks, hedge funds, asset managers, corporates and over 300,000 Eikon Messenger contacts.
Michael Go, Thomson Reuters
Michael Go, Head of FX Market Development, Asia Pacific at Thomson Reuters said,
21% of global FX volumes are now centered in Asia. We are delighted to further strengthen our commitment to the FX market with BOCHK’s decision to use Thomson Reuters FX solutions. With FXT, BOCHK has access to increased liquidity, connections to all market participants and improved productivity. In an age of interconnected global financial markets, Thomson Reuters trusted and robust FX solutions and transaction platforms lead the industry.
Tony Wang, General Manager of Global Markets of BOCHK, said,
BOCHK, as the sole clearing bank for RMB business in Hong Kong, a designated CNH Primary Liquidity Provider by the Hong Kong Monetary Authority, and the sole gateway of cross-border capital transfer between China Interbank Bond Market and Hong Kong under the Bond Connect scheme, is committed to the offshore and cross-border RMB development. Through the Thomson Reuters FXall platform, we will be offering clients competitive prices in RMB and other major FX currency pairs electronically, which we believe can help improve the offshore RMB liquidity and enhance customers’ execution experiences.