Refinitiv, a financial data and technology provider, announced this Thursday that FXall, its foreign exchange (foreign exchange) aggregator, has been approved by Bank Negara Malaysia as an Electronic Trading Platform.
FXall has been approved under Malaysia’s new framework for Electronic Trading Platforms. Within this framework, the FX aggregator will be offered in the country under its approved money broker “Refinitiv Transaction Services Malaysia Sdn Bhd.”
FXall provides electronic trading to banks and brokers and is a complete end-to-end workflow solution for FX trading, covering spot, forwards, swaps, non-deliverabe forwards (NDFs) and options.
Refinitiv Matching approved alongside FXall
Alongside, FXall, interbank central limit order book Refinitiv Matching has also been approved under the Electronic Trading Platform framework. This solution facilitates banks to trade on credit-screened USD/MYR liquidity anonymously.
Refinitiv Matching offers real-time credit screening, enhanced price discovery, concentrated liquidity and efficient execution for FX traders.
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Commenting on the announcement, Nigel Fuller, Performance Director for FX Venues at Refinitiv said in the statement: “Refinitiv has been a long-time partner in the Malaysian financial market.
“Bank Negara’s formal approval for FXall to operate alongside Matching enables us to further assist Malaysian FX market participants to develop their e-FX trading solutions. This will lead to greater transparency and efficiency both for the banks and their customers.
“We continue to work closely with central banks, liquidity providers, and buy-side participants to promote the development of efficient, fair and effective markets in the ASEAN region.”
Refinitiv expands covering of Matching solution
In recent months Refinitiv has been expanding its service coverage. As Finance Magnates reported, earlier this month, the data company launched a new version of Refinitiv Matching for FX traders specifically designed for Ukraine.
The upgraded version includes the integration of new features that meet emerging client and market demand. In Ukraine, the service offers users the ability to explore liquidity sources, benchmark trades, and develop systematic FX trading strategies.