August 13, 2015

Thomson Reuters increases Matching venue market data frequency for selected currency pairs

Increased frequency will enhance price discovery for clients in key currencies, and increase precision in US dollar-euro trading

LONDON – Thomson Reuters today announced a program of increases in the frequency of data updates in selected currency pairs for customers accessing its Matching venue via their API connections.

Market participants trading spot instruments in these pairs will benefit from improved price discovery and greater trading opportunities, as rates will now update every 100 milliseconds. The Minimum Quote Life (MQL) for these pairs will also change to be consistent with the new market data intervals.

In the coming months the new frequencies will be introduced in two phases in the selected pairs, and will include US dollar spot trades in Canadian, Australian, New Zealand and Singapore dollars, Chinese renminbi, UK sterling, Japanese yen, Mexican pesos and the euro, plus the Australia/New Zealand dollar pair. At the same time, there will be greater precision in pricing for euro/US dollar trades, as a new half-pip offers increased granularity.

“These are additional enhancements to the already rich capabilities we offer our FX clients,” said Phil Weisberg, global head of FX, Thomson Reuters. “Following our recent launch of iceberg orders on Matching, the market data frequency changes are the latest in a series of innovations to improve access to liquidity for market participants across our broad, diverse client base.”

It was announced last month that the Thomson Reuters Matching community now also has access to native iceberg order types, enabling clients to display a size which is less than the full order quantity when submitting a limit order.

The new market data frequencies will be implemented fully by mid-November 2015.

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