SEF Trading Begins For Thomson Reuters and FXall Customers
Thomson Reuters, the world's leading source of intelligent information for businesses and professionals, today announced that trading has begun on its swap execution facility (SEF). As a registered SEF, Thomson Reuters supports U.S. regulated SEF trading of foreign exchange (FX) non-deliverable forwards (NDFs) and FX options.
Thomson Reuters and FXall customers that have completed the on-boarding process now have access to Thomson Reuters SEF trading capabilities. Thomson Reuters and FXall began on-boarding clients and liquidity providers to the Thomson Reuters SEF in July. Trading has started strongly on Thomson Reuters SEF with over ten liquidity providers and over 100 on-boarded clients. The first trade on Thomson Reuters SEF was executed by Barclays.
“We are extremely pleased that the trading on the Thomson Reuters SEF has officially begun. We have worked very closely with our customers and regulators throughout the regulations process and our efforts to ensure a smooth transition into the regulated environment have been successful,” said Phil Weisberg, global head of FX, Thomson Reuters.
The Thomson Reuters SEF provides customers a consistent workflow for trading regulated FX products. With the addition of the Thomson Reuters SEF to the choice of available trading venues, customers of Thomson Reuters can trade SEF regulated FX NDFs and Options in addition to FX spot, forwards and swaps, money markets and precious metals. Thomson Reuters integrates to all participants in the workflow process including clearing organizations, swap data repositories and clearing brokers to meet SEF reporting and clearing obligations.