Bank of China HK signs up for Thomson Reuters FX Trading

FXall and Electronic Trading are now available on Thomson Reuters’ desktop platform, created in 2015

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Trading boost: “Twenty-one per cent of global FX volumes are now centered in Asia. We are delighted to further strengthen our commitment to the FX market” – Michael Go

Bank of China (Hong Kong) and Thomson Reuters have reached an agreement that will allow the second-largest commercial banking group in Hong Kong to use Thomson Reuters foreign exchange tools via its FX Trading Platform (FXT).

As part of the agreement, Bank of China HKs treasury, sales and trading department will use FXall and Electronic Trading to increase access to liquidity, streamline workflow and improve efficiency.

Bank of China HK, as the sole clearing bank for renminbi business in Hong Kong, a designated [offshore] renminbi primary liquidity provider by the Hong Kong Monetary Authority, and the sole gateway of cross-border capital transfer between [the] China interbank bond market and Hong Kong under the Bond Connect scheme, is committed to offshore and cross-border renminbi development, said Tony Wang, general manager of global markets at Bank of China HK.

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, he added.

FXT, a Thomson Reuters desktop platform created in 2015, provides a single point of access to liquidity in hundreds of currency pairs, with more than $350 billion in average daily FX volumes. It enables market participants to use compliance tools, settlement and trade history reports to comply with regulatory trade requirements.

Twenty-one per cent of global FX volumes are now centred in Asia. We are delighted to further strengthen our commitment to the FX market with Bank of China HKs decision to use Thomson Reuters FX solutions, said Michael Go, head of FX market development for Asia-Pacific at Thomson Reuters.

Through the Thomson Reuters FXall platform, we will be offering clients competitive prices in RMB and other major FX currency pairs
Tony Wang, Bank of China HK

With FXT, Bank of China HK 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, he added.

In June, Bank of China HK signed a partnership with EBS Direct – the fully disclosed, relationship-based FX platform owned by Nex Markets – to add pricing in the offshore renminbi and other major currencies.

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