Thomson Reuters SEF completes certification testing with LCH.Clearnet's ForexClear
(Thomson Reuters ONE) -
Thomson Reuters Swap Execution Facility (SEF) undergoes rigorous certification
testing with LCH.Clearnet to meet demanding functional and technical test
requirements as a prerequisite to offering comprehensive functionality when
providing a connection to clearing for dealer-client FX non-deliverable forwards
(NDF) transactions
NEW YORK/LONDON, July 13, 2015 - Thomson Reuters, the world's leading source of
intelligent information for businesses and professionals, today announced that
the Thomson Reuters SEF has completed certification testing for FX non-
deliverable forwards (NDF) clearing by LCH.Clearnet's ForexClear service. This
is part of Thomson Reuters commitment to achieving the highest standards of best
practice across its platforms.
Subject to standard regulatory notifications, this certification provides
Thomson Reuters with the future ability to offer users of the Thomson Reuters
SEF comprehensive functionality when providing access to central clearing of FX
NDF transactions and enables Thomson Reuters customers to simplify risk
management by removing the counterparty credit risk that comes with a non-
centrally cleared model.
LCH.Clearnet's certification programme is designed to ensure that customers
using approved execution venues will benefit from highly integrated workflow for
the clearing of FX NDF trades. The conformance testing carried out by
LCH.Clearnet ensures that the two companies will be able to provide seamless
communication across the trade lifecycle to these customers.
"Impending regulations on capital requirements will increase the relative costs
of settling non-centrally cleared derivatives trades bilaterally. We recognise
this cost, along with the benefits of removing counterparty credit risk, will
naturally drive demand for FX NDF clearing even before it is mandated," said
Jodi Burns, global head of regulation and post-trade at Thomson Reuters.
"Working closely with LCH.Clearnet, our objective was to ensure we meet the
highest standards of performance and integration in providing access to central
clearing to our customers on the Thomson Reuters SEF."
The Thomson Reuters SEF currently handles almost two thirds of the market's
total average daily volumes of FX NDF bank-to-client SEF transactions. It allows
customers to trade FX options, non-deliverable forwards (NDFs) and NDF swaps
electronically through multibank request-for-quote liquidity and an anonymous
central limit order book. Designed specifically to meet FX trading, clearing,
and reporting obligations as mandated by the Dodd-Frank Act, the Thomson Reuters
SEF provides a complete, end-to-end workflow solution with straight-through
processing and settlement. Volumes on the Thomson Reuters SEF have increased by
more than 20 percent in 2015.
LCH.Clearnet is a global, multi-asset class clearing house, serving major
exchanges and platforms as well as a range of OTC markets.
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://thomsonreuters.com.
CONTACTS
Kate Reid
Thomson Reuters
+44 (0)20 7542 2215
kate.reid(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
[HUG#1937674]
Unternehmensinformation / Kurzprofil:
Datum: 13.07.2015 - 12:51 Uhr
Sprache: Deutsch
News-ID 406339
Anzahl Zeichen: 4558
contact information:
Town:
New York
Kategorie:
Business News
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