May 07, 2013
Thomson Reuters to provide China real-time Interbank FX Rates through its one-stop Eikon desktop
BEIJING – Thomson Reuters, the world's leading source of intelligent information for businesses and professionals, today announced it will provide real-time interbank foreign exchange (FX) data for the onshore and offshore renminbi (RMB) market. Through the company’s flagship financial markets desktop, Thomson Reuters Eikon, investors can now use integrated real-time FX data from the China Foreign Exchange Trade System (CFETS), the official interbank trading and FX division of China’s central bank.
As of this month, financial professionals can easily track the RMB FX market with simple access to real-time tick by tick prices, trade volume data as well as market contributor content from CFETS. This information offers currency traders, analysts and institutional investors the ability to make timely trading and investment decisions with an up-to-the second understanding of RMB exchange rate movements.
The launch of this service allows investors to receive RMB FX spot, forward and swap prices, historical trade volumes, as well as foreign currency pairs data through a Thomson Reuters Eikon interface customized to a user’s workflow. In addition, financial professionals can use the same platform to connect to global counterparties and liquidity in addition to accessing Thomson Reuters global FX community – one of the largest and most active in China. More than 2,000 FX professionals in China currently use Thomson Reuters FX multi-media forum for online live chat and real-time market news.
Thomson Reuters Eikon is designed to provide a powerful and intuitive next-generation solution for consuming real-time and historical data, connecting with the financial markets community and executing financial markets transactions across asset classes such as foreign exchange (FX), fixed income, commodities, equities and derivatives. It realizes Thomson Reuters vision for a financial markets desktop that is intelligent, simple and social. Driven by powerful search engine technology, Eikon carries real-time data, news, charts, insightful commentary and analytics – such as FX Buzz, an intraday service offering forward looking analysis and commentary for the foreign exchange community – that can be customized to individual user preferences and workflow. Based on open standards, Eikon is powered by Thomson Reuters Elektron, the Company’s low latency data and trading infrastructure.
“The provision of the China’s real-time interbank FX data is another in a series of enhancements for Thomson Reuters Eikon users and demonstrates our commitment to bringing clients a comprehensive and intuitive interface to information on the China market,” said Massimo Di Gregorio, Managing Director, Thomson Reuters China. “At a time when the RMB is rapidly becoming one of the major international currencies, our partnership with CFETS can bring significant competitive advantages to our clients.”
RMB FX trading conditions in China continue to be resilient against a background of strong economic growth. The continued strong domestic demand and a mild global economic upturn means that China’s economy is expected to grow 8.4% in 2013, according to the World Bank. This growth is expected to further strengthen China’s already growing FX market.
Globally, Thomson Reuters is a leading provider of liquidity and workflow solutions for the FX markets. Last year, the company completed its acquisition of FXall, which further strengthened Thomson Reuters role in the FX marketplace and will enable it to serve a broader universe of institutions looking to take advantage of alpha generating opportunities in FX. In March 2013, Thomson Reuters average daily FX spot volumes for the month was US$131 billion. This represents the average amount traded daily on Thomson Reuters main FX Spot trading services – Thomson Reuters Dealing, Matching and Reuters Trading for FX. FXall’s trading volumes for March 2013 were $110 billion. This represents the average amount traded daily, counting one side of the trade on FXall’s main trading services – Relationship Trading and Active Trading.
Thomson Reuters is the world's leading source of intelligent information for businesses and professionals. We combine industry expertise with innovative technology to deliver critical information to leading decision makers in the financial and risk, legal, tax and accounting, intellectual property and science and media markets, powered by the world's most trusted news organization. With headquarters in New York and major operations in London and Eagan, Minnesota, Thomson Reuters employs approximately 60,000 people and operates in over 100 countries. Thomson Reuters shares are listed on the Toronto and New York Stock Exchanges. For more information, go to: http://thomsonreuters.com