Thomson Reuters Corporation : Thomson Reuters and EBS provide holistic view of
FX markets with blended FX fixing on Thomson Reuters Eikon
New blended 30-minute fixing brings together liquidity from both platforms to
provide the most accurate picture of live-traded prices
LONDON, NEW YORK, 18 February 2013 - EBS, ICAP's market-leading electronic FX
business, and Thomson Reuters, the world's leading source of intelligent
information for businesses and professionals, today announced that the sources
for the Thomson Reuters and EBS 30-minute FX fixing will be blended via a
proprietary algorithm to ensure all traded liquidity across Thomson Reuters
Matching and EBS Market is used in the fixing calculations, providing maximum
transparency to FX market participants.
The new blended offering, which has been in effect since 14 January 2013, has
been developed to promote greater market transparency across Thomson Reuters
and EBS platforms, meeting increasing global demand for more timely and
precise reference data based on real-time market transactions.
Currently available via Thomson Reuters Eikon, the company's next-generation
desktop for financial market professionals, the blended fixing brings together
liquidity from both EBS and Thomson Reuters to provide the most accurate
picture of live-traded prices. Previously the 30-minute fixed rates were based
solely on the platform that was traditionally the primary liquidity pool in
This new blended FX fixing will be available on the EBS Market later in 2013.
"This collaboration between Thomson Reuters and EBS is a great example of the
industry working together to improve the overall trading experience for the
benefit of all market participants," said Phil Weisberg, global head of
foreign exchange, Thomson Reuters. "By blending Thomson Reuters and EBS
sources for our 30-minute FX fixings we are ensuring that maximum liquidity
has been calculated within each currency fixing and therefore providing
maximum transparency for the marketplace as a whole."
"The FX industry is focused on ensuring a fair, robust and transparent
marketplace and is continuously evolving and innovating to push this agenda
forward over many fronts," said Gil Mandelzis, CEO, EBS. "This is another
grass roots initiative that will improve current practices significantly for
the benefit of all market participants. EBS is pleased to lead such changes,
together with Thomson Reuters and in partnership with other market
The fixing services were initially created in 2006 upon the request of the
Bank of England, following its retirement from the publication of FX rates.
Daily benchmarking at 11am and 4pm GMT for GBP, JPY, CHF, AUD, CAD and EUR
were initially provided by both Thomson Reuters and EBS, and from March 2011
the services were expanded to deliver fixings every 30 minutes.
Details of the full range of fixings available are at page <FXFIX/HELP1> in
Thomson Reuters Eikon and at
Thomson Reuters Eikon is designed to provide an intuitive, next-generation
solution for consuming real-time and historical data, connecting with the
financial markets community and executing financial markets transactions
across asset classes such as foreign exchange (FX), fixed income, commodities,
equities and derivatives. It realizes Thomson Reuters vision for a financial
markets desktop that is intelligent, simple and social. Driven by powerful
search engine technology, Eikon carries real-time data, news, charts,
insightful commentary, analytics and trade execution tools through views that
can be customized to individual user preferences and workflow.
ICAP's award-winning electronic EBS business is at the heart of global spot FX
trading and remains the core source of genuine, executable spot FX liquidity
for professional trading counterparties in all market conditions.
EBS delivers impartial and effective access to spot FX, precious metals and
NDF traders globally, offering optimal price discovery and execution, and
supports a wide range of FX trading strategies, as well as API and manual
trading. For more information, go to www.ebs.com.
About Thomson Reuters
Thomson Reuters is the world's leading source of intelligent information for
businesses and professionals. We combine industry expertise with innovative
technology to deliver critical information to leading decision makers in the
financial and risk, legal, tax and accounting, intellectual property and
science and media markets, powered by the world's most trusted news
organization. With headquarters in New York and major operations in London and
Eagan, Minnesota, Thomson Reuters employs approximately 60,000 people and
operates in over 100 countries. Thomson Reuters shares are listed on the
Toronto and New York Stock Exchanges. For more information, go to
Public Relations Director, GRC & Marketplaces
+44 (0) 207 542 0561
+44 (0) 7825282483
ICAP Corporate Communications
+44 (0) 20 7050 7124
This announcement is distributed by Thomson Reuters on behalf of Thomson
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other
applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of
information contained therein.
Source: Thomson Reuters Corporation via Thomson Reuters ONE
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