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Refinitiv Launches Cloud-Based FX Tool

Refinitiv has introduced Deal Tracker as a Service (DTaaS), a Cloud archiving and compliance tool for FX post-trade flow sourced from Refinitiv FXT.

DTaaS is an extension of Refinitiv Deal Tracker, which is designed to help firms monitor and process FX trades on all major FX platforms globally, both in the front and back office, by allowing them to monitor trade activity in real time, track net positions, and archive data for easy searching as well as compliance needs.

“As a Cloud-based service fully managed by Refinitiv, DTaaS can help eliminate the need for local software deployment, reducing total cost of ownership – a key benefit as financial companies look for ways to reduce spending, particularly on technology,” says Refinitiv in a release issued today.

The firm adds that regulatory standards are increasingly driving the need for data to be centrally stored and easy to access, in particular highlighting MiFID II as one specific piece of regulation that is causing this trend.

“FX traders need cost saving and compliant solutions at all points in the trading process, especially in the post-trade workflow where data archiving is both necessary, yet expensive,” says Neill Penney, co-head of trading at Refinitiv. “Deal Tracker as a Service is another milestone in Refinitiv’s strategy of utilising the Cloud to bring cost-saving and a more seamless workflow solution to our clients.”

 

 

Galen Stops

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