Thomson Reuters, one of the leading foreign exchange electronic communications networks, unveiled today that Mizuho Bank has integrated the company’s FX Trading into its trading workflows.
FX Trading gathers all Thomson Reuters FX transaction venues into a comprehensive end-to-end platform to streamline workflows and create a single point of access to the industry’s largest collective independent pool of FX liquidity.
Benefits of FXT integration
FXT delivers multiple venues for spot, FX swaps, Options and NDFs through single, integrated platform. Users are also enabled to access new order types such as Peg, TWAP and Icebergs, therefore providing greater flexibility and choice in execution.
In addition, 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 provides access to regulated trading venues and global trade reporting service, which helps market participants to comply with regulatory trade requirements.
“We are proud of Mizuho’s selection of FXT, which highlights Thomson Reuters achievements and progress in the foreign exchange space. In light of market volatility, decreased risk appetite and regulatory scrutiny, factors which impact FX market liquidity, FXT allows users to easily access maximum liquidity while complying with stringent regulatory standards,” said Michael Go, Head of FX Market Development, Asia Pacific at Thomson Reuters.
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 and over 300,000 Eikon Messenger contacts.
Growing Asian Demand
Japan was one of the most prominent financial centers in 2016 which accounted for 77 percent of global forex trading. There is an increasing demand from FX professionals in Japan and across Asia to improve the efficiency and effectiveness of execution, as well as the need for a platform to trade diversified instruments.
“The biggest advantage of FXT for dealers is the availability of more ordering methods. The diversification of ordering methods leads to the improvement of operating functions and also translates into more opportunities for trading profits,” said Yosuke Takahashi, Foreign Markets Team 1, International Foreign Exchange Department, Mizuho Bank, Ltd.
Mr. Takahashi added that FXT is not only a system that executes matching but also offers conversation functions where transfers can communicate with the external parties and information gathering function.