Tag: FXall

FXall

Why Platforms Need to Offer More Than Just Liquidity

In an environment in which liquidity has become increasingly commoditised, how do FX trading platforms offering access to this liquidity differentiate themselves?

This was the question put to Jill Sigelbaum, head of FXall, Refinitiv, during a recent video interview with Profit & Loss.

Sigelbaum responded that providing transaction cost analysis (TCA) and pre-trade analytics tools are examples of ways that platforms can offer increased value to clients, but also highlighted a number of other services that are being developed.

“What really differentiates us, and I think how we move forward, is the pre-trade workflow, the artificial intelligence that we plan to use around analysing the post-trade data so that we can make suggestions to clients, automating the process as much as possible without actually trading for our clients,” she said.

Thai Corporate Adds Trading, Settlement Technology

Thai energy company, PTT Exploration and Production Public Company Limited (PTTEP), has implemented Refinitiv’s FXall trading platform and “Settlement Center” post-trade solution for managing its FX transactions.

Because PTTEP already uses Eikon, this maks it the first Thai corporate to adopt the end-to-end suite of services covering pre-trade, trade and post-trade phases, according to a statement. PTTEP executed its first production trades in early October.

Yongyos Krongphanich, executive vice president, finance and accounting group at PTTEP, comments: “This collaboration between PTTEP and Refinitiv is considered an important step for PTTEP in managing its foreign exchange risk management and streamline back-end processes. This will further improve company’s competitiveness and support sustainable growth in this challenging digital era.”

And Another Thing…

Regular readers will know I am unsurprised to read reports of Blackstone pondering the sale of FXall once it completes its takeover of a majority stake in Thomson Reuters F&R, because (for once, I know, before you all message me) I predicted such a thing in this column in June.
What I find interesting in the latest production from the rumour mill is how it is only the sale of FXall – Matching and the other channels are not mentioned.

SEB Algos Available on Bloomberg and FXall

SEB has announced that it is the first Scandinavian bank to offer FX algo trading to its clients through multibank portals Bloomberg and FXall.
Instead of traditional orders where clients call in for their orders to be executed, they will now be able to place their orders themselves through FX Algos, a new portal which will give them the advantage of a transparent, smooth as well as automated trading solution.
The bank says clients will completely own their order execution, and will be able to select their preferred strategy and follow the execution without the need to contact their salesperson at the bank.

Thomson Reuters Rolls Out Trade Analytics Product

Thomson Reuters has introduced Trade Performance Analytics (TPA) for FXall users, a new analytics solution aimed at helping FX traders assess the quality of their trade execution, identify new opportunities to improve performance, and demonstrate best execution to their stakeholders.

In a release issued today, Thomson Reuters says that the launch of TPA was driven by the growing sophistication and adoption of analytics to drive decision making amongst FX market participants. The firm says that some of the benefits of TPA are that it will allow users to assess the quality of their historical execution, conduct like-for-like comparisons of liquidity providers and make better informed trade planning decisions.

Thomson Reuters and 360T Collaborate on FX Pricing

360T, Deutsche Börse Group’s FX unit, and Thomson Reuters (TR) have agreed to collaborate in order to enable pricing of Thomson Reuters FXall customers through 360T’s rate engine technology.

Banks using the 360T pricing engine infrastructure, comprised of Market Maker Cockpit and Auto Dealing Suite, can now directly price their customers on the FXall multibank platform.

Landesbank Hessen-Thüringen (Helaba) is the first German financial institution to go live with the new connectivity. Through the interface, Helaba can quote customers on both the 360T and FXall platforms utilising 360T’s FX price engine technology.

Thomson Reuters Goes Granular on AUD

Thomson Reuters has announced it is introducing more granular pricing for AUD/USD across its spot FX trading platforms. The change has been in beta testing with clients for some time and the change will officially be rolled out at the end of March.
Pricing for the pair will be in half pips to five decimal places, the new pricing regime will also be reflected in the firm’s market data offerings and added value calculations, as well as on its Eikon screens.

Sigelbaum Appointed to Head FXall

Jill Sigelbaum has been appointed as the new head of Thomson Reuters FXall, based in New York.

“We are delighted to have Jill onboard. Jill’s experience and expertise will bring a broad perspective to our FX offerings beyond front office execution,” says Neill Penney, global head of trading at Thomson Reuters.  “As well as driving the FXall business forward, she has the leadership capabilities necessary to work at an industry level to continue Thomson Reuters’ tradition of innovation in the FX market.”

Prior to this appointment, Sigelbaum worked at Traiana, which she initially joined in 2003, and served as global head of foreign exchange at the time of her departure. This role was also based in New York.

Cooley Exits Thomson Reuters

Sources familiar with the matter tell Profit & Loss that John Cooley, head of buy side trading at Thomson Reuters, has left the company.
Cooley came to Thomson Reuters as part of the company’s purchase of FXall in 2012 – a business of which he was chief financial officer from start up in 2000. Post-acquisition, Cooley served as business development manager for trading as well as head of Thomson Reuters’ indices and benchmark business.
Prior to joining FXall, Cooley was chief administration officer for HSBC’s fixed income business.

Thomson Reuters Also Enjoying September Uptick

Thomson Reuters (TR) is the latest FX platform to post strong September trading volumes, with figures released today showing that the average daily volume (ADV) of FX trading across all its platforms was $411 billion. 

This represents a 12% month-on-month (MoM) and a 12.6% year-on-year (YoY) increase in volumes. 

This total reflects trading volumes on Thomson Reuters Matching and FXall in all transaction types, including spot, forwards, swaps, options and non-deliverable forwards (NDFs). 

The volumes data on TR’s website only stretches back to January 2013, but this represents the highest overall ADV across all of its platforms since then.