Thomson Reuters Corp (NYSE:TRI) today announces a steep increase in the number of FX market participants using Thomson Reuters Trade Notification (TRTN) network.
The company said the number of FX market participants publishing and receiving trade notifications via the TRTN service has increased 50% year-on-year through February 2016, as industry participants seek increased transparency and lower costs and errors from automated trade notification and straight through processing (STP). TRN has also registered a rise in message volume of 20% in the same period, as Thomson Reuters aims to bolster market efficiency by providing an agnostic industry-wide network.
TRTN, which is fully integrated into Thomson Reuters new desktop platform FX Trading, is available as a deployed solution via XML and Thomson Reuters Ticket Output Feed (TOF) or as a hosted solution via a FIX interface.
Thomson Reuters has recently enhanced TRTN to include STP support for options and allocations. In addition its venue-agnostic affirmation service enables traders to view their electronically-negotiated trades and simplify their workflow for affirming voice-brokered trades.
Alex Walker, head of post-trade, Thomson Reuters, says,
“While regulation is putting the onus on market participants to ensure transparency throughout the trade life cycle, efficiency and cost benefits are also driving our clients to consolidate the systems they use. For trade notification they are looking for a system that can serve the entire FX market, and we are committed to partnering agnostically across the industry to achieve that. With Thomson Reuters Trade Notification we have created one of the FX industry’s largest trade notification networks with over 100 publishers and more than 1000 receivers participating.”
You can view the announcement from Thomson Reuters by clicking here.