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.
The two-way interface enables 360T’s market maker participants to quote client price requests originated from FXall. By using the 360T pricing engine infrastructure, clients of both platforms receive integrated and automated price distribution.
Carlo Kölzer, CEO of 360T, says: “We are very pleased that Thomson Reuters is supporting the ‘open platform concept’, which increases the efficiency of the global electronic FX market by connecting market leading venues, technologies and global communities of clients regardless of client type, geographic location or choice of execution venue and FX fintech partner.”
Michael Burckhart, head of FX trading at Helaba, says: “We welcome the cooperation between Thomson Reuters FXall and 360T. With this we can use 360T’s pricing engine infrastructure and have the possibility to reach all our FX clients with consistent pricing, while benefiting from operational risk mitigation and consistent integration to our internal risk management infrastructure.”
Neill Penney, co-head of trading at TR, adds: “Collaboration and openness in the financial markets delivers efficiency and value across the entire market, and this partnership puts that principle into action. The enhanced pricing and workflow benefits FXall liquidity providers using the 360T price engine technology.”