UK-based financial markets data and infrastructure provider Refinitiv has launched its global electronic trading Matching service in Vietnam, to help emerging Asian markets digitise their FX trading capabilities.
Refinitiv said that the new Matching trades on a T+1 basis, the most commonly traded value date, and marks the first electronic marketplace for the trading of VND in Vietnam.
Refinitiv managing director and trading co-head Neill Penney said: “Refinitiv is proud to have had a presence in Vietnam since 1994. The launch of USD/VND on Matching follows our recent launch of FXall in Vietnam and highlights our on-going commitment to help deepen financial markets in Vietnam and the broader ASEAN region.
“We continue to work closely with central banks, liquidity providers, and buy-side participants to promote the development of efficient, fair and effective markets in the region.”
Matching is a segment of the Refinitiv MTF and regulated under MiFID II rules
According to the International Monetary Fund, Vietnam has launched Economic and political reforms under Đổi Mới in 1986, which have laid the foundation for approximately 6.6% growth per annum during 2014-18.
Refinitiv said that Matching is an anonymous electronic trade matching service available in the global FX marketplace, and provides real-time executable prices for more than 60 Spot currency pairs and 30 FX Swap currency pairs.
The company offers Matching through its FXT platform that allows access to the largest global pool of interbank professional traders.
In addition, Matching is a segment of the Refinitiv MTF, regulated under MiFID II rules and is part of a broad portfolio of analytical and trading solutions to support all segments in the FX trading workflow.
Refinitiv claims that it is one of the largest financial markets data and infrastructure providers in the world, serving over 40,000 institutions in over 190 countries.
The company provides data, insights, trading platforms, open data and technology platforms for driving performance in trading, investment, wealth management, regulatory compliance, market data management, enterprise risk and fighting financial crime.
Refinitiv ASEAN market development head Nigel Fuller said: “Matching is a powerful, cost-effective and low-latency solution for FX traders which offers real-time credit-screening, easy price discovery, concentrated liquidity and efficient execution.
“Our customers benefit from the advantages e-trading brings such as trade capture and automatic trade reporting. Since launching, over 30 major market players have signed up to trade USD/VND through Matching.”
