VND

Refinitiv Launches Vietnam’s First Electronic Marketplace for VND

vndThe global provider of financial markets data and infrastructure Refinitiv has launched its leading global electronic trading Matching service in Vietnam, representing the country’s first electronic marketplace for the trading of VND. Matching trades on a T+1 basis which is the most commonly traded value date.

Emerging markets in the Asia region continue to develop their financial markets and digitize FX trading capabilities and Refinitiv has played a role in the transformation. Last year, the firm enhanced Thai Baht FX benchmarks, sourcing Thai baht and Thai Baht Offshoredata from its anonymous central limit order book. Refinitiv also partnered last year with National Singapore University to bring CRI’s Analytics data to its customers.

Vietnam has incurred in remarkable growth and development over the past 30 years ever since economic and political reforms launched in 1986. These have laid the groundwork for growth that averaged 6.6 percent per annum during 2014-18, reaching a 10 year high of 7.1 percent in 2018, according to the International Monetary Fund.

Nigel Fuller, Head of Market Development, ASEAN at Refinitiv, commented: “Matching is a powerful, cost-effective and low-latency solution for FX traders which offers real-time credit-screening, easy price discovery, concentrated liquidity and efficient execution. Our customers benefit from the advantages e-trading brings such as trade capture and automatic trade reporting. Since launching, over 30 major market players have signed up to trade USD/VND through Matching.”

Neill Penney, Managing Director and Co-Head of Trading at Refinitiv, said: “Refinitiv is proud to have had a presence in Vietnam since 1994. The launch of USD/VND on Matching follows our recent launch of FXall in Vietnam and highlights our on-going commitment to help deepen
financial markets in Vietnam and the broader ASEAN region. We continue to work closely with central banks, liquidity providers, and buy-side participants to promote the development of efficient, fair and effective markets in the region.”

Founded in 2018, Refinitiv is jointly owned by Blackstone Group LP which has a 55% stake and Thomson Reuters which owns 45%. The company has an annual turnover of $6bn with more than 40,000 client companies in 190 countries. In August, London Stock Exchange Group reached an
agreement with Refinitiv’s shareholders, including Blackstone’s consortium and Thomson Reuters, to acquire the business in an all-share transaction for a total value of approximately US$27 billion. The Transaction will result in the Refinitiv Shareholders ultimately holding an approximate 37 percent economic interest in LSEG and less than 30 percent of the total voting rights of LSEG.