Thomson Reuters, the world’s leading source of news and information for professional markets, is adding further foreign exchange (FX) pricing granularity for customers trading the AUD/USD currency pair, with an extra decimal place.
Pricing granularity creates greater accuracy in price quotes on Thomson Reuters Spot Matching and across Thomson Reuters FX platforms. Instead of being quoted to four decimal places, it will be quoted to five where the value of the fifth decimal must be either 0 or 5. The extra half pip will add precision to the AUD/USD pair.
Paul Clarke, Head of FX Venues at Thomson Reuters, commented: “The change supports the increased use of algorithmic and API driven FX trading in the marketplace, which is, in turn, driving many of our clients to seek even more granularity in pricing.
This is an example of Thomson Reuters delivering enhancements to our market leading trading solutions in response to client needs and the ever-changing dynamics across financial markets”, Clarke added.
Thomson Reuters’ anonymous electronic trade matching system for FX is used by thousands of market participants worldwide in order to access and trade on deep liquidity in over 80 currency pairs. Together with FXall, Thomson Reuters FX platforms support an average daily trading volume of over $407 billion.
The change, going into effect at the end of March, will allow FX traders to quote more accurately as the pair trades at a tight spread, the value of each tick is high, and the size in the book has improved over the last year. All related Thomson Reuters Eikon FX screens will adopt the extra decimal place, as well as all market data feeds and added value calculations.
In June 2017, Thomson Reuters added the AUD/USD pair to the Binary Multicast Feed, providing updates every 25 milliseconds for feed users. The size at top of book and the depth have both improved.
As capital markets increasingly engage with cryptocurrency trading, Thomson Reuters announced last week the launch of its first sentiment data feed for Bitcoin. The feed has added over 400 news and social media sites, many specific to cryptocurrencies, which are scanned and scored in real-time, aiming to capture market-moving sentiments and themes.
A recent Thomson Reuters survey conducted in partnership with Forbes Insight found that wealth managers agree that it is vital to stay up to date when it comes to technology in order to have a successful business. 68% said that learning about and keeping up with new technology is the top challenge they face.