October 16, 2017
Bank of China (Hong Kong) Selects Thomson Reuters Electronic Trading and FXall
HONG KONG – Bank of China (Hong Kong) (“BOCHK”) has adopted Thomson Reuters Electronic Trading (ET) and FXall via the FX Trading (FXT) Platform. BOCHK’s treasury, sales and trading departments will use Thomson Reuters FX solutions to increase access to liquidity, streamline workflows and improve efficiency.
FXall and Electronic Trading are available on FXT, a Thomson Reuters flagship desktop platform. In 2015, Thomson Reuters brought together all of its FX transaction venues onto one platform to create a single point of access to unrivalled liquidity in hundreds of currency pairs. FXT enables market participants to streamline their trading workflow by including compliance tools, straight-through processing, confirmations as well as settlement and trade history reports. It helps market participants comply with regulatory trade requirements by providing access to regulated trading venues and a global trade reporting service.
Trading over $350 billion in average daily FX volumes, FXT users can also connect with the world’s largest professional FX community, with over 14,000 dealing counterparties, 1,500 FXall buy-side liquidity takers including regional banks, hedge funds, asset managers, corporates and over 300,000 Eikon Messenger contacts.
Michael Go, Head of FX Market Development, Asia Pacific at Thomson Reuters said, “21%* of global FX volumes are now centered in Asia. We are delighted to further strengthen our commitment to the FX market with BOCHK’s decision to use Thomson Reuters FX solutions. With FXT, BOCHK has access to increased liquidity, connections to all market participants and improved productivity. In an age of interconnected global financial markets, Thomson Reuters trusted and robust FX solutions and transaction platforms lead the industry.”
Tony Wang, General Manager of Global Markets of BOCHK, said, “BOCHK, as the sole clearing bank for RMB business in Hong Kong, a designated CNH Primary Liquidity Provider by the Hong Kong Monetary Authority, and the sole gateway of cross-border capital transfer between China Interbank Bond Market and Hong Kong under the Bond Connect scheme, is committed to the offshore and cross-border RMB development. Through the Thomson Reuters FXall platform, we will be offering clients competitive prices in RMB and other major FX currency pairs electronically, which we believe can help improve the offshore RMB liquidity and enhance customers’ execution experiences.”
*BIS Triennial Survey 2016
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. For more information, visit www.thomsonreuters.com.
About Bank of China (Hong Kong) Limited
Bank of China (Hong Kong) Limited (“BOCHK”) is a leading commercial banking group in Hong Kong with strong market positions in all major businesses. We have the most extensive local branch network and diverse service platforms, including 197 branches, efficient e-channels of over 1,000 self-service machines, as well as Internet and Mobile Banking services. We offer a comprehensive range of financial, investment and wealth management services to personal, corporate and institutional customers. In accordance with the strategic plan of BOC Group, we have been driving our regional development through the acquisitions of Bank of China Limited’s (“BOC”) institutions in Southeast Asia and the establishment of a Brunei Branch. We are actively expanding our business in Southeast Asia and transforming BOCHK into a regional bank.
BOCHK is one of the three note-issuing banks and the sole clearing bank for Renminbi (“RMB”) business in Hong Kong. With our strong RMB franchise, we are the first choice of customers in this business. Through the deep collaboration with our parent bank, BOC, we provide a full range of high quality cross-border services to multinationals, cross-border customers, Mainland enterprises going global, central banks and super-sovereign organisations.
BOC Hong Kong (Holdings) Limited, BOCHK’s holding company, is one of the largest listed companies on the main board of the Stock Exchange of Hong Kong, with stock code “2388” and ADR OTC Symbol “BHKLY”.
Head of PR, Financial & Risk, APAC
+61 392 861 464
Senior Business Communications Executive, APAC
+852 2847 8052
Deputy General Manager, Corporate Communications & CSR
Bank of China (Hong Kong)
+852 2826 6159