Refinitiv pledges FX brokerage to Australian bushfire relief

From February 4–7, Refinitiv will be donating 100% of its global brokerage fees from AUD turnover to the Australian bushfire appeal.

The financial markets data and infrastructure provider will donate the brokerage fees from AUD turnover from 9am Australian Eastern Standard Time on February 4 to 9am February 7, a total of three trading days, to a range of accredited Australian charities to support the volunteer firefighters and communities impacted by the recent bushfires.

The turnover is inclusive of spot and forwards volumes traded on Refinitiv platforms Matching and FXall and is for all AUD currency pairs.

Daryl Sisson, managing director Pacific at Refinitiv, says: “Australia is experiencing its worst-ever bushfire season. This situation is serious and I am grateful that Refinitiv, a global organisation, is fully supportive of local bushfire support efforts. I would encourage all of the FX community to get behind this initiative to ensure we can maximise relief efforts.”

A number of Australian-focused financial companies have already added their weight to the cause, including Westpac Group, which has established a A$1.5 million ($1 million) bushfire fund, and broker Invast Global, which will donate 100% of trading commissions earned on January 31 to Australia’s State Fire Service and victims of the horrific fires.

Refinitiv also says funds raised from its initiative will be used to support volunteer firefighters and help displaced families and communities, as well as the rehabilitation of injured wildlife.

In addition, Refinitiv is arranging a number of employee-led local fundraising events over the coming weeks with money raised matched by a contribution from Refinitiv.

Australia is currently experiencing its worst-ever bushfire season. The first fires ignited in September 2019 and have continued to burn. Experts forecast that the fires are likely to devastate the east coast of Australia for another two months, with fires spreading north and south at an alarming rate.

At least 25 people and over 400 million animals have been killed by the fires, which have burned about 14.5 million acres across Australia. The area already burned is more than triple the size of the land destroyed by the 2018 California fires and six times the size of the 2019 fires in the Amazon rainforest.