Malaysian Ringgit and Philippines Peso trading added to Thomson Reuters Matching
Currencies of dynamic Asian economies added to the leading electronic trade matching system to offer greater liquidity and new trading opportunities
Thomson Reuters, the world’s leading source of intelligent information for businesses and professionals, today announced the launch of real-time electronic trading of spot and forward Malaysian Ringgit and Philippines Peso on Thomson Reuters Matching platform.
The addition of the new currencies to Thomson Reuters Matching means onshore banks will now have access to an electronic central limit order book, providing them with more reference on pricing levels of the USD/MYR and USD/PHP pairs and bringing a new level of efficiency, liquidity and transparency to these markets.
In the Philippines, Thomson Reuters has partnered with the Philippine Dealing System Holdings Corp. & Subsidiaries (PDS Group), to provide the foreign exchange electronic trading platforms to members of the Bankers Association of the Philippines, the association that operates the Philippines’ USD/PHP spot and swap markets.
Meanwhile in Malaysia, Bank Negara Malaysia has granted an approval to conduct electronic money-broking services, making Matching the first electronic matching system for USD/MYR.
“Thomson Reuters is excited to embark on the new era of electronic trading in Malaysia and the Philippines,” said Nigel Fuller, Head of Liquidity Sales, Thomson Reuters, Asia. “Extending our market standard Matching capabilities to new markets has been a constant theme for us and, with the support of local market participants we believe that Matching will be a valued source of liquidity and help drive efficiency throughout the trade cycle, thus promoting long-term growth of the interbank foreign exchange market.”
With over 1,100 subscriber organizations, Thomson Reuters Matching is the leading anonymous electronic trade matching system for the professional community, offering unbiased access to real time executable prices on more than 80 currency pairs.
Thomson Reuters has had a presence in Malaysia and the Philippines for decades, working closely with the financial industry and the banking community as the leading international financial information provider to operate in these countries.