Thomson Reuters has added FX platform EBS to its post-trade network, the company announced today.
The deal means that EBS will now be able to offer straight through processing to its clients.
Seamus O’Sullivan, global head of FX forwards at EBS Direct, explained the partnership with Thomson Reuters would allow its clients to “seamlessly integrate EBS Direct for straight through processing.”
Head of post-trade at Thomson Reuters, Alex Walker, said the tool “makes complete sense” as it creates “an open, market-wide system” for the entire FX market.
TRTN is a liquidity provider that allows participants to connect with counterparties globally in a “venue agnostic” manner, Walker said.
Walker added that the firm is “committed to partnering agnostically across the industry to offer a real time, scalable, market-wide network that can service a volatile industry.”
Thomson Reuters Trade Notification has witnessed an 80% increase in message volume this year, as its users doubled, although specific numbers were not published in today’s statement.
Reuters said the network connections and volumes on its TRTN “continue to rise” as foreign exchange (FX) participants using the tool doubled from 2015 to 2016.
EBS will join 2,500 other publishers on TRTN, which enables “complete straight through processing to its clients.”