July 27, 2017

Thomson Reuters readies market participants for new FX derivatives requirements under MiFID II

Company enhances FXall and FX Trading desktops and begins customer onboarding to its regulated Multilateral Trading Facility (MTF) to support compliant trading of FX derivatives on FXall and Thomson Reuters Matching.

LONDON – Thomson Reuters has completed enhancements to its FXall and FX Trading desktops to ensure clients trading on Thomson Reuters Multilateral Trading Facility (MTF) remain fully compliant with the new MiFID II execution requirements for FX derivatives that will take effect in January 2018. The enhancements enable Thomson Reuters to add MTF-support for FX forwards, swaps, NDFs and options trading on FXall as well as continue support for swaps trading on Thomson Reuters Matching.

Thomson Reuters has now begun the transition process for customers to its enhanced MTF and is releasing new interfaces to both FXall and FX Trading that accommodate new data fields as well as improve post-trade STP feeds to assist customers with reporting and record-keeping requirements. Thomson Reuters will meet its obligations as an MTF-operator for trade reporting by partnering with Tradeweb for APA services. 

“As a well-established MTF-provider, Thomson Reuters is committed to helping its customers successfully navigate the road to compliance for MiFID II,” said Neill Penney, managing director, co-head of Trading at Thomson Reuters. “This has been a collaborative process, making sure that we work in synch with our customers’ compliance programs. Our customers understandably have questions regarding MTF trading under MiFID II and we have put considerable work into guiding them through this process while minimizing disruption to their operations.”

Thomson Reuters FXall is a dealer-to-client FX market place used by over 2,300 institutional clients and 180 market makers. Thomson Reuters Matching is an anonymous electronic trade matching system for FX used by thousands of market participants in every region of the world to access and trade on deep liquidity in over 80 currency pairs. Collectively, Thomson Reuters FX platforms support average daily trading of over $350bn.  

Thomson Reuters has recently announced several initiatives designed to help its clients achieve MiFID II compliance including: a partnership with BestX for FX transaction cost analysis; the launch of an enhanced analytics platform for best execution and SI determination (Velocity Analytics 8.0); plans to provide a holistic set of MiFID II services including multi-asset best execution, SI (Systematic Internaliser) determination, research valuation, market data aggregation and bespoke reference data services; a collaboration with Tradeweb for APA (Approved Publication Arrangement) services; and enhancements to its Tick History feed.

Thomson Reuters

Thomson Reuters is the world’s leading source of news and information for professional markets. Our customers rely on us to deliver the intelligence, technology and expertise they need to find trusted answers. The business has operated in more than 100 countries for more than 100 years. Thomson Reuters shares are listed on the Toronto and New York Stock Exchanges (symbol: TRI). For more information, visit www.thomsonreuters.com.


Brian D. Bertsch
Public Relations Manager
Thomson Reuters | Financial & Risk
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