New risk controls help Thomson Reuters FX clients manage their business more efficiently and effectively
(Thomson Reuters ONE) -
Thomson Reuters Matching launches net credit calculation and trading controls to
enable banks to manage operational risks and set more effective credit lines to
meet their needs
NEW YORK/LONDON, November 6, 2014 - Thomson Reuters, the world's leading source
of intelligent information for businesses and professionals, has announced to
prime broker banks the launch of new risk controls and net credit functionality
for users of Thomson Reuters Matching. These will enable banks to set and gauge
credit against their trading counterparties, and prime brokers against their end
clients, creating greater efficiencies and the optimal use of credit on the
Matching platform.
The new net credit functionality of Thomson Reuters Matching enables banks to
set effective credit limits for their clients and counterparties that reduce
risk and support current trading styles and requirements. Currently, banks can
set only gross credit limits that do not represent the true credit risk.
"Every business is prioritizing the need to make its money work smarter," said
Phil Weisberg, global head of FX, Thomson Reuters. "With net credit, banks can
benefit right away from more efficient credit usage and draw down. These changes
allow them to continue to trade with confidence at a time when firms and the
markets where they operate are focusing on operational risk and controls. That
is good news for banks and for their end clients."
The new functionality provides further safeguards for banks and their clients:
Maximum Order Size protects against erroneous large trades; Maximum Open Orders
limits the number of resting orders (and so the maximum exposure) a client can
have in the market at any one time from open orders; and further controls
configure which currencies a counterparty can trade with the bank. Prime broker
banks will now also have an enhanced programmatic kill switch to terminate
trading of any of their clients.
These new features have been beta-tested with a small number of prime broker
banks during August and September, including J.P. Morgan and Citi.
Following the successful beta tests these features are available now to all
prime broker banks and will be available shortly to all Thomson Reuters Matching
clients.
Thomson Reuters
Thomson Reuters is the world's leading source of intelligent information for
businesses and professionals. We combine industry expertise with innovative
technology to deliver critical information to leading decision makers in the
financial and risk, legal, tax and accounting, intellectual property and science
and media markets, powered by the world's most trusted news organization.
Thomson Reuters shares are listed on the Toronto and New York Stock Exchanges.
For more information, go to http://www.thomsonreuters.com.
Contact:
Brian Mairs
PR Director, Financial Sectors
Tel: +44 20 7542 7866
Email: brian.mairs(at)thomsonreuters.com
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Thomson Reuters Corporation via GlobeNewswire
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