Thomson Reuters targets FX corporate treasurers via FXall
Penney: one application is best
Thomson Reuters has added foreign exchange trading capabilities for corporate treasurers to its financial markets desktop Thomson Reuters Eikon, linking it to FXall QuickTrade, a request for stream service.
Eikon already offered FX market pricing in 175 currencies, but previously traders couldn’t engage with FXall prices directly. With the integration of FXall QuickTrade, corporate treasurers can now access the 140 liquidity providers on FXall and trade on their prices for spot, forwards, and swaps from within the same screen. Trades executed in Eikon can automatically flow through to FXall Settlement Center, enabling treasurers to streamline the confirmation process with their liquidity providers.
“Many corporate treasurers have light FX trading needs but still need access to liquidity on a regular basis,” said Neill Penney, head of foreign exchange workflow at Thomson Reuters. “We recognise how much easier it is for these customers to be able to access everything they need from within one application. By combining the intelligence and analytics of Thomson Reuters Eikon with the market liquidity of FXall QuickTrade, we are simplifying how our customers can engage with the FX market.”
FXall was originally an independent company that operated a trading platform for FX. The platform was an FX aggregator, created by a consortium of banks back in 2000. However, in 2012 FXall was bought by Thomson Reuters for $625 million. Prior to these events, Penney was head of product strategy at FXall. He joined Thomson Reuters from Morgan Stanley in 2013. As part of Thomson Reuters, FXall now has an estimated 140 liquidity providers. Meanwhile, Eikon currently has a messaging community of 210,000 financial professionals, according to Thomson Reuters.
Eikon has gained prominence in recent years. In March 2013, the European Central Bank signed a deal together with the central banks of 18 countries to adopt Thomson Reuters’ Eikon desktop for trading and market data. The ECB saida the deal was partly about improving its access to information.
