ASEAN KEY DESTINATIONS
Thomson Reuters Presents its Fifth FX Trading Awards in the presence of the Honourable Bank of Thailand’s Deputy Governor in Bangkok
Thomson Reuters, the world's leading source of intelligent information for businesses and professionals, held its annual Thomson Reuters FX Community Forum in Bangkok yesterday and announced the winners of its fifth annual Thomson Reuters FX Trading Awards.
Mrs. Pongpen Ruengvirayudh, Bank of Thailand’s deputy governor, gave the keynote address on the challenges from both internal and external fronts to the Thai economy and financial markets this year. She mentioned that international funds seem to differentiate between their investment destinations based more on fundamentals. This requires the authorities to have the right set of policy responses in place to deal with these short-term volatilities.
“2014 will also see some new development in the market. The transaction-based valuations to the benchmark calculations for the Thai baht implied interest rates (THBFIX) will be introduced in place of the current survey-based model. This change is part of the market reference rate reform effort and is in line with the approach adopted by many other countries.” said Pongpen Ruengvirayudh, deputy governor, Bank of Thailand.
During the event, a panel of leading financial experts shared and debated their views on the country’s market outlook for 2014. The panel was formed by Dr Don Nakornthab, Director of Macroeconomic Policy Office, Bank of Thailand, Mr Andrew Stotz, President of CFA Thailand, Mr Guil Silva, Head of Global Markets and Treasurer Thailand, HSBC Thailand and Dr Kampon Adireksombat, Head of Economic Strategy, Tisco Financial Group.
Thomson Reuters has a long-established presence in Thailand and continues to work closely with the financial industry and the banking community. In 2006, Thomson Reuters became the first organisation to introduce electronic trading of the Thai Baht (THB) against the US dollar through its electronic Matching service.
"Thomson Reuters strives to address the evolving needs of the FX community in Thailand. In response to the challenges faced by our clients, we are committed to delivering an improved and diversified line of solutions and services across the FX markets. Thomson Reuters acquisition of FXall, the leading multi-bank electronic foreign exchange platform, further strengthened the company’s role and commitment to providing innovative solutions in response to business needs in the FX marketplace,” said Nigel Fuller, head of liquidity sales Asia at Thomson Reuters.
Foreign exchange is the world’s most-actively-traded asset class and continues to generate significant interest from the global trading community. Thomson Reuters average daily FX Spot volume for the month of January 2014 was $117 billion while average daily volume traded on Thomson Reuters relationship trading platform FXall were $123 billion. January’s robust trading volumes demonstrate the FX community’s ongoing confidence in Thomson Reuters to provide reliable and trusted access to both primary market and dealer-to-client liquidity.
Thomson Reuters annual FX Awards for Thailand aim to promote transparency in the Thai foreign exchange market and to recognize its importance in the broader Thai economy. The Thai FX Award winners were determined based on trading volumes and pricing contributions on Thomson Reuters electronic FX trading platforms.
The winners of Thomson Reuters FX Trading Awards for Thailand are as follows:
1. Best USD/THB Liquidity Provider (From Dealing Spot Matching)
Winner: Bangkok Bank PCL
1st Runner Up: The Hongkong & Shanghai Banking Corporation Limited
2nd Runner Up: JPMorgan Chase Bank, N.A., Bangkok Branch
2. Best Foreign Currency Liquidity Provider (From Dealing Spot Matching)
Winner: The Bank of Tokyo-Mitsubishi UFJ, Ltd.
1st Runner Up: Bangkok Bank PCL
2nd Runner Up: JPMorgan Chase Bank, Bangkok Branch
3. Best Foreign Currency Liquidity Provider (From RTFX/FXall)
Winner: CIMB Thai Bank PCL
1st Runner Up: Krungthai Bank PCL
2nd Runner Up: Thanachart Bank PCL
4. Best THB FX Spot Contributor
Winner: Citibank, N.A.
1st Runner Up: Siam Commercial Bank PCL
2nd Runner Up: The Hongkong & Shanghai Banking Corporation Limited
5. Best THB Interest Rates Contributor
Winner: Mizuho Bank, Ltd.
1st Runner Up: Bangkok Bank PCL
2nd Runner Up: The Bank of Tokyo-Mitsubishi UFJ, Ltd., Bangkok Branch
Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below