Thomson Reuters Corporation : Twenty-One Banks in Nepal Sign Up To Thomson
Reuters Foreign Exchange Dealing Platform
Nepalese Rupee to trade on global platform for first time alongside major
Kathmandu, March 24, 2013 - Thomson Reuters, the world's leading source of
intelligent information for businesses and professionals, today announced that
21 leading banks in Nepal have signed up to Thomson Reuters Dealing, the
company's industry standard trading platform for foreign exchange (FX) that
enables trading professionals to connect with one another, hold conversations
about different FX products and prices, as well as conduct FX transactions.
This milestone will also mark the first time that the Nepalese rupee trades on
a global trading platform alongside major international currencies.
"The start of the dealing platform marks a move towards the automation in
management of foreign exchange reserve in Nepal," said Dr. Y.R. Khatiwada,
Governor of Nepal Rastra Bank who officiated at a ceremony marking the
occasion with the Nepal Bankers' Association and the Foreign Exchange Dealers
Association of Nepal. "It provides the Nepalese banking sector with easy
access to multiple counterparts at a time and helps to grasp the opportunities
arising from changes in international financial markets. This will also
maximize the efficiency of our people working in forex reserve management."
Used by more than 18,000 trading professionals globally in more than 5,000
organizations across 120 countries Thomson Reuters Dealing is the industry
standard for FX trading professionals for price discovery, trade execution and
seamless integration with back office processes. Through Thomson Reuters
Dealing users can quickly and efficiently contact their trading counterparties
across a highly secure and reliable network, find liquidity in the instruments
they are trading and get a clear view of where the FX markets are heading.
"Thomson Reuters Dealing serves the world's largest professional trading
community and we are delighted to welcome these 21 Nepalese banks into that
community," said Sriram Ramnarayan, vice president, Financial & Risk South
Asia, Thomson Reuters. "This represents a new era in transparency, efficiency
and automation in the way trades are executed in Nepal. The availability of
real-time pricing information and automated trading processes will open up new
opportunities for Nepal's banks and enable them to tap into the global FX
markets - the largest financial market in the world."
Thomson Reuters has had a presence in Nepal for more than a decade working
closely with the financial industry and the banking community and is the
leading international financial provider to operate in the country in
association with Nepal's ICTC Group.
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Source: Thomson Reuters Corporation via Thomson Reuters ONE
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