Conference Dailys TRADETech FX Daily 2018 | Page 7

THETRADETECHFX DA I LY
news
ASIA
Thomson Reuters adds Japanese Yen and Thai
Baht to matching platform
CROSS-CURRENCY TRADING IN JPY/
THB AND TBH/JPY WILL BE PROVIDED
ON THE THOMSON REUTERS CENTRAL
LIMIT ORDER BOOK PLATFORM.
T
homson Reuters has expanded its cross-cur-
rency trading with the addition of Japanese
Yen and Thai Baht to its matching platform.
Real-time, electronic trading of spot in both
currency pairs will be provided on Thomson Reu-
ters’ central limit order book to clients in Japan,
Thailand and globally.
Direct trading between the currencies through
Thomson Reuters will provide a new level of
efficiency, liquidity and transparency, the firm
said. It also follows an agreement between both
countries to promote the use of local currencies
for trade and settlement.
The Ministry of Finance of Japan and the
Bank of Thailand penned a memorandum of
cooperation in March this year, with plans for
both authorities to launch initiatives relating to
interbank trading between the Japanese Yen and
the Thai Baht.
Chantavarn Sucharitakul, assistant governor
for the corporate strategy and relations group​ at
the Bank of Thailand, said that the launch of the
currency pairs on Thomson Reuters Matching
marks another key milestone in the cooperation
between Thailand and Japan.
“By enabling commercial banks to trade the
JPY/THB currency pair directly on the Thomson
Reuters Matching platform, these banks will
have more flexibility to manage their local cur-
rency liquidity without converting through other
major currencies,” she added.
“This will result in lower transaction costs for
these banks and their clients. The Bank of Thai-
land believes that this initiative is a significant
step in promoting the use of local currencies of
the region.”
Jonathan Woodword, head of transactions
sales for Asia Pacific at Thomson Reuters,
concluded that further efficiency, liquidity and
transparency to the interbank market, will
see benefits created for all secondary market
participants.  
In July Thomson Reuters confirmed plans to
rebrand its financial services and risk business
upon completion of Blackstone’s purchase of
a majority stake in the company. The Thom-
son Reuters Financial & Risk segment will be
renamed Refinitiv once the transaction with
Blackstone is completed in early October this
year.
The deal will see Thomson Reuters receive $17
billion in gross proceeds upon close.
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