In a sign of the growing important of FX trading in Asia, Vietcombank has announced that it has chosen Thomson Reuters Electronic Trading (ET) platform to help its business in Vietnam.
FX trading is a growing industry in Southeast Asia, and companies are willing to invest in premium products to improve the efficiency and the effectiveness of their trading.
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The report says that FX trading has grown 21 percent in Asia since 2013 and a large part of this volume comes from Southeast Asia. With such an evolving market, banks need a flexible platform with hedging and advanced pricing capabilities.
Mrs. Nguyen Thi Kim Oanh, Deputy CEO of Vietcombank, said: “As the leading financial institution in Vietnam in FX and money market transactions, Vietcombank is one of the first financial institutions in Vietnam to select Conversational Dealing within Thomson Reuters FXT and Electronic Trading platforms for our interbank dealing with both domestic and international counterparties. We believe this fruitful partnership will continue in the future, as we achieve our target of joining the ranks of the top global 300 leading financial institutions.”
The ET platform helps banks and other financial institutions structure and configure FX prices according to the needs of their clients, and offers advanced risk management tools too.