Refinitiv, one of the largest providers of financial markets data and infrastructure, has revealed that China CITIC Bank International will be using the Refinitiv Electronic Trading platform to streamline its foreign exchange (FX) trading and distribution workflow.
Banks and other financial service providers are looking for better tools for supporting or working with FX markets. Financial institutions are looking for solutions that will give them better control over electronic pricing, distribution, and hedging so that they can meet the requirements of their customer base while enhancing the efficiency of their operations.
Refinitiv Electronic Trading platform is reportedly used by more than 300 banks in 80 different countries. The company’s e-commerce FX trading solution allows clients to shape, configure and automate FX prices for clients via several distribution channels and FX venues while improving risk management processes. Refinitiv Electronic Trading also comes with auto-execution and smart order routing features that allow clients to access more accurate price discovery.
Lijun Bai, Executive Director ACEO, Head of Wholesale Banking Group and Treasury & Markets Group at CITIC International, stated:
“In today’s FX market, we see a strong demand for electronic pricing, execution efficiency and stability as the partner of our clients. Through the Refinitiv Electronic Trading platform, we will be offering competitive prices in CNH and other major FX currency pairs electronically, which we believe will improve the operational and risk controlling efficiency for both our bank and our customers.”
David Day, Head of North Asia at Refinitiv, remarked:
“Enabling e-commerce solutions for the industry two decades ago, Refinitiv sits at the intersection of currencies FX venues, technology and regulation globally. We will continue to promote the development of efficient, fair and effective markets.”
As reported in July 2020, Refinitiv acquired Advisor Software Inc. to further expand digital capabilities for the wealth management industry. Also in July, Refinitiv announced the launch of Lipper Fund ESG Scores for sustainable investing.
In March 2020, Refinitiv revealed that it had made a strategic investment in ModuleQ, a Microsoft partner for Office 365 and Microsoft Teams, as well as the ModuleQ app, which predicts users’ current priorities while working in Microsoft Teams to bring them timely and relevant content, news and analytics.
Earlier this year, Refinitiv announced its acquisition of Scinvantage, a software as a service (SaaS) provider.
