￼Neill Penney, co-head of trading at Thomson Reuters, talks to Galen Stops about the recent changes in the firm’s FX business and details how it plans to continue developing it in 2017.
There were some significant changes to Thomson Reuters’ FX business in 2016, with one of the most visible being the departure of Phil Weisberg in November, who had headed the FX business at the firm since 2012.
With Weisberg leaving “to pursue opportunities outside the firm”, Thomson Reuters has re-structured its management, introducing a new business unit called Trading.
Thomson Reuters is creating a suite of reporting services that will support the workflow of market participants in their efforts to meet post-trade transparency requirements mandated by the Markets in Financial Instruments Directive II.
In preparation for the new regulations, the company says it is working closely with over 50 European exchanges and more than 30 additional venues to onboard new MiFID II content to its Elektron Data Platform. It is also providing test data to market participants so that they can prepare their systems for new parameters, such as high-precision time-stamps, in advance of MiFID II deadlines.