Thomson Reuters is set to quit FX options matching business

FX Week reports that Thomson Reuters is set to quit the FX Options matching business. It seems that the service never really lived up to the expectations and Thomson Reuters decided to cut back on the investments. Resources will be diverted to Eikon platform upgrade, with new trade capabilities to be offered in FX options […]

Massachusetts Treasurer: BNY Mellon overcharges state’s pension fund by over $30 million

BNY Mellon and State Streep Corp are under increasing regulatory scrutiny for alleged overcharging of their institutional clients in forex transactions. Only two weeks ago Steven Grossman, Massachusetts State Treasurer, estimated that BNY Mellon overcharged the state’s pension fund by over $20 million, after additional analysis this figure now seems to be over $30 million. […]

Advertising

Generic_Forex

FX Week reports that Thomson Reuters is set to quit the FX Options matching business. It seems that the service never really lived up to the expectations and Thomson Reuters decided to cut back on the investments.

Resources will be diverted to Eikon platform upgrade, with new trade capabilities to be offered in FX options

Thomson Reuters is to leave the FX options interbank matching business, in a strategic decision aimed at diverting more resources to the development of new post-trade services designed for the FX options market.

“While a decision has been made to exit the interbank matching business, focus and attention for FX options is now fixed on the Thomson Reuters Eikon platform. We are currently working on a new solution for FX options that will ensure we offer a service that is the best fit for this market,” the company said in a statement.

The FX options matching service has been available for approximately five years, but it has never achieved the targets set by the company.

According to a source close to the group, the decision to exit the business has been considered regularly each year.

Grab your latest copy of the Forex Magnates Retail Forex Industry Report for Q1 2011.

Got a news tip? Let Us Know
FOUND A MISTAKE
IN THE ARTICLE?
How do you feel about the article?
  • Educated 0
  • Surprised 0
  • Intrigued 0
  • Indifferent 0
  • Annoyed 0

Discuss the Article


8 + = 13

I agree to the Terms of Use Required field

Notify me of followup comments via e-mail.
You can also subscribe without commenting.