The Refinitiv FX Matching platform supports Spot, as well as Forwards trading. The matching data is essential for the FX market structure. It is used as a reference rate in price discovery, the management of client orders and FX options contracts, WM/Reuters fixings and for determining the day’s high and low trading range. Matching is used by clients who value and its firm liquidity and all-to-all model. Matching is valuable in times of market volatility and recently saw Spot volumes spike to levels last seen during the UK Brexit referendum of June 2016 and the November 2016 US presidential election. Forwards Matching also recently registered historical record high volumes.
The feed supports 5ms updates for a near real-time view of the Matching book made of firm (no last-look), all-to-all orders and high confidence of execution on the venue. New VWAP data that has also been added to the binary feed allows trading clients to monitor and adjust their algorithms in real time.
Paul Clarke, Head of FX Venues, Refinitiv commented:
As a leading trading venue and data company for financial markets, Refinitiv is committed to supporting effective markets and client solutions that drive faster and smarter trading decisions. The liquidity and feed of data from FX Matching is critical in the trading and risk management strategies adopted by institutional FX trading firms, making it imperative that we continue to enhance our solutions to drive liquidity, transparency and smarter trade execution. The richer data in the feed will help FX traders to execute more effectively and enhance their trading strategies.
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