360T, Deutsche Börse Group’s FX unit and Thomson Reuters have expanded their collaboration in the foreign exchange market by enabling pricing of Thomson Reuters FXall customers through 360T’s rate engine technology.
Banks utilizing the 360T Pricing Engine infrastructure, comprised of Market Maker Cockpit and Auto Dealing Suite, can now directly price their customers on the FXall multibank platform.
Landesbank Hessen- Thüringen (Helaba) is the first German financial institution to go live with this new connectivity. Through the new interface, Helaba can quote customers on both the 360T and FXall multi-bank platforms utilizing 360T’s FX price engine technology.
The two-way interface enables 360T’s market maker participants to quote client price requests originated from Thomson Reuters multi-bank platform FXall. By utilizing the 360T Pricing Engine infrastructure, 360T’s and FXall’s clients can benefit from integrated and automated price distribution.
Carlo Kölzer, 360T CEO, said: “We are very pleased that Thomson Reuters is supporting the ‘open platform concept’ which increases the efficiency of the global electronic FX market by connecting market leading venues, technologies and global communities of clients regardless of client type, geographic location or choice of execution venue and FX Fintech partner.”
Michael Burckhart, Head of FX Trading, Helaba, said: “We welcome the cooperation between Thomson Reuters FXall and 360T. With this we can use 360T’s Pricing Engine infrastructure and have the possibility to reach all our FX clients with consistent pricing while benefiting from operational risk mitigation and consistent integration to our internal risk management infrastructure”.
Neill Penney, Co-Head of Trading at Thomson Reuters added: “Collaboration and openness in the financial markets delivers efficiency and value across the entire market, and this partnership puts that principle into action. The enhanced pricing and workflow benefits FXall liquidity providers using the 360T price engine technology.”