China CITIC Bank Taps Refinitiv Platform to Expand eFX Trading

Provider of financial markets data and infrastructure, Refinitiv announced this Friday that China CITIC Bank International has adopted its electronic Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term to expand its foreign exchange (Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term) trading capabilities and distribution workflow.

China CITIC Bank International is one of the major lenders in China. The bank has taken on the platform after seeing strong demand for electronic pricing and execution efficiency. The bank said that it would be using the platform to offer competitive prices in CNH.

The Refinitiv Electronic Trading platform is an e-commerce forex trading solution currently used by more than 300 banks across 80 countries. The platform uses e-commerce products to shape, configure and automate forex prices to customers via a number of distribution channels and FX venues.

Commenting on the partnership, David Day, Head of North Asia at Refinitiv, said in the statement: “As a leading trading venue and data company for financial markets, we are proud to strengthen our partnership with China CITIC Bank International, one of the most prominent Chinese banks in the offshore market.

“Through Refinitiv Electronic Trading, CNCBI will have access to an efficient and digitized FX trading platform to drive the on-going growth of its foreign exchange business in both local and international markets. Enabling e-commerce solutions for the industry two decades ago, Refinitiv sits at the intersection of currencies FX venues, technology and regulation globally. We will continue to promote the development of efficient, fair and effective markets.”

China CITIC Bank Chose Refinitiv to Respond to Demand

Refinitiv Electronic Trading is equipped with auto-execution and smart order routing methods. According to the market data provider’s statement today, this allows it to deal with larger volumes from remote or virtual work environments.

“In today’s FX market, we see a strong demand for electronic pricing, execution efficiency and stability as the partner of our clients,” added Lijun Bai, Executive Director ACEO, Head of Wholesale Banking Group and Treasury & Markets Group at CITIC International in the statement.

“Through the Refinitiv Electronic Trading platform, we will be offering competitive prices in CNH and other major FX currency pairs electronically, which we believe will improve the operational and risk controlling efficiency for both our bank and our customers.”