Thomson Reuters announced today that its Electronic Trading platform has received a series of interface and connectivity enhancements. The platform represents Thomson Reuters’ white label offering, which bank customers use to provide electronic trading services to their customers. As an end-to-end product, the platform includes the ability to connect liquidity, price and distribute FX quotes to customers, hedge client order flow, and a front-end trading platform.
Among the new features is the ability to add liquidity from FXall. A multi-dealer platform, the FXall platform incorporates liquidity from their anonymous ECN, as well as allowing customers to integrate relationship-based pricing. For the platform, the addition of FXall boosts the options available for customers compared to what was previously available. Regarding this, a representative from Thomson Reuters explained to Finance Magnates, “Before FXall’s integration, Electronic Trading was a dealer to client price distribution platform. Any execution dealer to dealer (interbank) was done through a separate hedging component. Now we offer a fully integrated aggregation ability with the additional liquidity from FXall.”
In addition to pricing, Thomson Reuters stated that it had improved the platform’s core pricing engine to reduce latency as well as adding new order types. In regards to the front-end, the platform was redesigned to allow for greater branding flexibility and improve the end-user experience. According to the firm, the platform is currently being used by over 100 bank customers.
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Commenting publicly about the enhancements, Neill Penney, Head of Workflow Management at Thomson Reuters, stated, “Against a backdrop of market scrutiny, the need for increasing transparency and trade reporting will only see an increased adoption of electronic FX trading around the world. Our bank customers need flexible trading platforms to continue to forge direct connections with their customers electronically. They need tools that provide control over electronic pricing, distribution and hedging to meet the growing demands of their client base and improve internal efficiency through automation. This is why we are committed to continuous innovation on our Electronic Trading platform.”