Vietcombank Selects Thomson Reuters Electronic Trading to Power Its Business in Vietnam
Vietcombank announced today it has selected Thomson Reuters Electronic Trading (ET) to power its business in Vietnam and strengthen its presence in both the local and international foreign exchange markets.
Foreign exchange trading has significantly increased in Asia, with 21% growth since 2013* – South East Asia in particular is a large part of the FX growth engine in Asia. In today’s evolving FX markets, banks need flexible trading solutions that provide control over electronic pricing, distribution and hedging to meet the changing demands of their client base and improve efficiency.
With Thomson Reuters Electronic Trading, over 200 banks across 80 countries globally are already benefiting from a next-generation e-commerce trading platform. Accessible via Thomson Reuters innovative FX desktop application, FX Trading, Electronic Trading offers a powerful suite of e-commerce products to shape, configure and automate FX prices to customers while streamlining risk management.
Mrs. Nguyen Thi Kim Oanh, Deputy CEO of Vietcombank, said,
“As the leading financial institution in Vietnam in FX and money market transactions, Vietcombank is one of the first financial institutions in Vietnam to select Conversational Dealing within Thomson Reuters FXT and Electronic Trading platforms for our interbank dealing with both domestic and international counterparties. We believe this fruitful partnership will continue in the future, as we achieve our target of joining the ranks of the top global 300 leading financial institutions.”
Sanjeev Chatrath, Managing Director, Financial and Risk, Asia Pacific at Thomson Reuters said,
“As the leading provider of trading and analysis platforms for foreign exchange markets, we are proud to strengthen our partnership with Vietcombank through its decision to select Thomson Reuters Electronic Trading. Thomson Reuters has been present in Vietnam since 1992 and the country has become one of the fastest growing in Southeast Asia, rapidly developing into an important Asian financial centre. Through Thomson Reuters ET, Vietcombank will have access to an efficient and digitized FX trading platform to drive the on-going growth of its foreign exchange business.”