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FX Aggregation

FX Aggregation. Johann (Hansi) Leikert Manager Trading Solutions Europe East Phone: +43 1 53112 283 Email: johann.Leikert@thomsonreuters.com Rovinj , May 2012. AGENDA. Challenges for Banks Trends in FX Trading Thomson Reuters Dealing Aggregator What´s new in Reuters Matching.

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FX Aggregation

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  1. FX Aggregation Johann (Hansi) Leikert Manager Trading Solutions Europe East Phone: +43 1 53112 283 Email: johann.Leikert@thomsonreuters.com Rovinj, May 2012

  2. AGENDA • Challenges for Banks • Trends in FX Trading • Thomson Reuters Dealing Aggregator • What´s new in Reuters Matching

  3. What are the challenges for Banks in FX? • Price Aggregation • Lack of industry-wide consolidated tape • Own developed solution or third party vendor • First step for an winning automated trading operation • Managing multiple trading venues • Different locations and built-in distance latency • Varying frequency of price distribution • Lack of price normalization • Lack of consistency across venues that present depth of book • Differences in tick size and order types

  4. FX Trends Market Fragmentation ECNs FX Traded Electronic FX Traded In High Frequency FX Algo Trading

  5. FX Trading in the80´s

  6. FX Trading in the last 10 years

  7. Where is the best price for me?

  8. FX Trading in 2012

  9. Market Aggregation Liquidity Management Execution Management Position Management Algorithmic Trading Deployed or Hosted Integration to Sales Channels (RET) Thomson Reuters Dealing Aggregator Dealing Aggregator consolidates these destinations and sends orders to them Example Destinations Reuters EBS Barcap BBG Lava DB Currenex CS Hotspot CME FXall

  10. What´s new on Reuters Matching • New Matching API • New Matching GUI with depth of book this year • International Matching for Croatia • Thomson Reuters is Number One FX Liquidity Pool • $ 137 billion per day

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