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Thomson Reuters Reports Growth in Volumes, Connections

The
number of FX market participants publishing and receiving trade notifications
on Thomson Reuters trade notification network has grown 50% year-on-year
through February 2016 as industry participants seek to realise the benefits of
increased transparency and reduced costs and errors from automated trade
notification and straight-through processing (STP).

 

Thomson
Reuters Trade Notification (TRTN) has also seen an increase in message volume
of 20% in the same period, as the firm looks to improve market efficiency by
providing an agnostic industry-wide network.

 

“While
regulation is putting the onus on market participants to ensure transparency
throughout the trade life cycle, efficiency and cost benefits are also driving
our clients to consolidate the systems they use,” said Alex Walker, head of
post-trade. “For trade notification they are looking for a system that can
serve the entire FX market, and we are committed to partnering agnostically
across the industry to achieve that. With Thomson Reuters Trade Notification we
have created one of the FX industry’s largest trade notification networks with
over 100 publishers and more than 1,000 receivers participating.”

 

Designed
to serve the full spectrum of global FX market participants, the firm says TRTN
provides a single connection for them to connect with counterparties around the
world in a venue-agnostic manner. Banks and brokers can automatically publish
and receive notifications executed on broker networks, bank platforms, ECNs and
FX venues globally. TRTN messages are received securely in real-time and in a
choice of industry-standard message formats that offer future-proofing as well
as ease of downstream integration.

 

Fully
integrated into its new desktop platform, FX Trading, TRTN is available as a
deployed solution via XML and Thomson Reuters Ticket Output Feed (TOF) or as a
hosted solution via a FIX interface. The hosted FIX interface is capable of
accessing all FX venues that have chosen to use TRTN to publish trades
including those of Thomson Reuters. It offers benefits such as reduced total
cost of ownership, encryption and rich functionality for complex trade
scenarios. FIX also allows flexible data aggregation and segregation to map
onto customer business models, helping them to manage multiple dealing codes.

 

The
firm has also recently expanded TRTN to include STP support for options and
allocations. In addition, its venue-agnostic affirmation service allows traders
to view their electronically negotiated trades and simplify their workflow for
affirming voice-brokered trades.

Julie Ros

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