Refinitiv Announced First Electronic Marketplace for VND FX Trading in Vietnamby Company Announcement October 3, 2019
Refinitiv announced it has launched its global electronic trading Matching service in Vietnam, as emerging markets in the Asia region continue to develop their financial markets and digitize FX trading capabilities.
The launch represents Vietnam’s first electronic marketplace for the trading of VND. Matching trades on a T+1 basis which is the most commonly traded value date.
Vietnam has had a remarkable growth and development story over the past 30 years. Economic and political reforms under Đổi Mới launched in 1986, have laid the groundwork for growth that averaged 6.6 percent per annum during 2014-18, reaching a 10 year high of 7.1 percent in 2018, according to the International Monetary Fund.
“Matching is a powerful, cost-effective and low-latency solution for FX traders which offers real-time credit-screening, easy price discovery, concentrated liquidity and efficient execution. Our customers benefit from the advantages e-trading brings such as trade capture and automatic trade reporting. Since launching, over 30 major market players have signed up to trade USD/VND through Matching,”
said Nigel Fuller, Head of Market Development, ASEAN at Refinitiv.
“Refinitiv is proud to have had a presence in Vietnam since 1994. The launch of USD/VND on Matching follows our recent launch of FXall in Vietnam and highlights our on-going commitment to help deepen financial markets in Vietnam and the broader ASEAN region. We continue to work closely with central banks, liquidity providers, and buy-side participants to promote the development of efficient, fair and effective markets in the region,”
said Neill Penney, Managing Director and Co-Head of Trading at Refinitiv.
Refinitiv was recently awarded Best Tech Provider and Best G10 FX Trading Platform at the coveted FX Week Asia Awards 2019.
Refinitiv Matching is one of the leading anonymous electronic trade matching services available in the global FX marketplace, providing real-time executable prices for over 60 Spot currency pairs and 30 FX Swap currency pairs. Matching is available through the Refinitiv FXT platform, allowing access to the largest global pool of interbank professional traders. Matching is part of a comprehensive portfolio of analytical and trading solutions offered by Refinitiv that support all segments in the FX trading workflow. Forwards Matching is a segment of the Refinitiv MTF, regulated under MiFID II rules.