Refinitiv Comes to Australia’s Aid, Pledges 100% of Brokerage Fees

With Australia still suffering from its worst bushfire season on record, Refinitiv announced this Tuesday that it would be contributing to the cause by supporting a range of Australian charities.

Specifically, the company will donate 100 percent of brokerage fees made from global Australian dollar (AUD) turnover for three trading days, starting from 9 am on Tuesday, the 4th of February until 9 am on Friday the 7th of February Australian Eastern Standard Time.

This turnover on which the brokerage fees are generated from includes spot, forwards, Swaps Swaps Swaps can be defined as a derivate contact composed of two parties that exchange to cash flow between two separate financial instruments.They are generally divided into two categories. This includes contingent claims (options) and forward claims, where forward contracts, swaps, and exchange-traded funds (ETFs) are exchanged. Commodity price, equity price, interest rate, and foreign exchange rate are common variables used as one of the cash flows in swaps upon initiation. Different Types of Swaps Swaps can be defined as a derivate contact composed of two parties that exchange to cash flow between two separate financial instruments.They are generally divided into two categories. This includes contingent claims (options) and forward claims, where forward contracts, swaps, and exchange-traded funds (ETFs) are exchanged. Commodity price, equity price, interest rate, and foreign exchange rate are common variables used as one of the cash flows in swaps upon initiation. Different Types of Swaps Read this Term, and options traded on Refinitiv platforms - Matching and FXALL - and is for all AUD currency pairs, the statement said.

The money will be donated to Australian charities in order to support the volunteer firefighters and communities impacted by the recent bushfires, as well as the rehabilitation of injured wildlife.

Commenting on the announcement, Refinitiv Managing Director, Pacific, Daryl Sisson, said in the statement: “Australia is experiencing its worst ever bushfire season. This situation is serious, and I am grateful that Refinitiv, a global organisation, is fully supportive of local bushfire support efforts. I would encourage all of the FX community to get behind this initiative to ensure we can maximise relief efforts.”

Refinitiv to match employee donations

In addition to donating the brokerage fees, Refinitiv’s employee-led Pacific Sustainable Action team will be holding local fundraising events in the coming weeks. The market data provider is also matching all employee donations (up to $1,000) and is fundraising globally through its TicketAid solution.

“As an Aussie based in New York, my heart continues to break as I watch the devastating scenes in the aftermath of the raging bushfires across most Australian states,” added Refinitiv, Chief Revenue Officer, Deborah Walton.

“I am pleased to see our united, multi-faceted response from all parts of our business in response to this crisis, and I am extremely proud of Refinitiv’s commitment to support the communities in which we operate around the world.”

FX brokers support Australia

Refinitiv is not alone in its efforts to support Australia. As Finance Magnates reported, numerous companies in the FX space have been rallying behind the country, such as Pepperstone, Invast Global and BDSwiss.