Refinitiv Expands FXall in Frontier Markets
Refinitiv expands FXall trading capabilities in frontier markets through partnership with Crown Agents Bank
The addition of Crown Agents Bank as a liquidity partner adds further choice for trading African, Caribbean and Asian market currencies
NEW YORK/LONDON, 23 October 2019: Recognizing the growth of FX trading in emerging and frontier markets and the need for FX traders to have ample choice among liquidity providers, Refinitiv has added Crown Agents Bank as a liquidity partner for its FXall platform. Crown Agents Bank is a UK regulated provider of wholesale FX and cross-border payments services across developing, emerging and frontier markets.
With the addition of Crown Agents Bank, FXall users have an additional liquidity choice for trading deliverable frontier currencies, including XOF, XAF, TZS, UGX, GHS, BDT, RWF, XCD. As part of its expansion across emerging and frontier markets, Refinitiv recently launched its leading global electronic trading Matching service in Vietnam, creating the first electronic marketplace for VND FX trading, and has also grown in Eikon Auctions capabilities to facilitate over $1 trillion in transactions for central banks and corporates.
“An effective global FX trading network requires presence in smaller, emerging markets, and partnering with liquidity providers such as Crown Agents Bank furthers those capabilities,” said Neill Penney, Managing Director, Co-Head of Trading, Refinitiv. “Refinitiv continues to deliver further liquidity and seamless FX trade execution in the FX market by taking its market-leading FX trading and research capabilities and growing them across Africa and Asia.”
“We are thrilled to partner with Refinitiv on FXall to increase access to these expanding markets for the banks and organizations we serve, all over the world. This kind of access is essential in enabling developing, emerging and frontier markets to flourish,” said Alison Trace, DigitalFX Product Manager at Crown Agents Bank.
As the leading multi-dealer FX trading platform, FXall offers clients access to deep liquidity with choice in execution, end-to-end workflow management and straight-through processing – covering the entire trade lifecycle. FXall has a client base of over 2,300 clients and 200 leading FX banks and alternative market makers. Refinitiv was recently awarded Best Tech Provider and Best G10 FX Trading Platform at the coveted FX Week Asia Awards 2019. For further information on Refinitiv’s FX solutions, visit here.
Refinitiv is one of the world’s largest providers of financial markets data and infrastructure, serving over 40,000 institutions in over 190 countries. It provides leading data and insights, trading platforms, and open data and technology platforms that connect a thriving global financial markets community – driving performance in trading, investment, wealth management, regulatory compliance, market data management, enterprise risk and fighting financial crime. www.refinitiv.com
About Crown Agents Bank
Crown Agents Bank is a UK regulated provider of wholesale foreign exchange and cross-border payments services connected across developing, emerging and frontier markets. Its in-depth financial market experience spans more than 185 years; in this time, they have developed deep and trusted relationships all over the world.
They offer cross-border transaction banking solutions to meet the needs of governments, development organizations, banks and non-bank financial organizations, encompassing FX, payments, pensions, payroll, as well as deposits and trade finance. www.crownagentsbank.com
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