Thailand’s FX Community Celebrate Success at Thomson Reuters FX Awards 2016 Bank of Thailand Assistant Governor Presents Honours at Awards Ceremony

Friday 25 March 2016 12:50
Thomson Reuters announced the winners of its annual FX Awards at a ceremony hosted in Bangkok yesterday. The awards aim to promote transparency and liquidity in the Thai foreign exchange market and to recognize its importance to the broader Thai economy.

Mrs. Chantavarn Sucharitkul, Bank of Thailand's Assistant Governor gave the keynote address emphasizing cooperation in pushing forward reform efforts to raise the professional standards for the FX market, while also touching on plans to allow more flexibility in FX regulations to enhance the competitiveness of the industry and the economy to cope with challenges coming from many fronts. The relaxation would include allowing onshore banks to offer FX-linked products and expanding the scope for securities firms to undertake FX transactions to better serve customers in the capital market.

"Regulators and market participants have been working hard to cooperate in the development of both capital and financial markets. An efficient and competitive financial market is crucial in supporting economic growth," said Mrs. Chantavarn Sucharitkul, Bank of Thailand.

Award winners were determined based on trading volumes and pricing contributions on Thomson Reuters electronic FX trading platforms.

A panel session hosted during the event discussed the latest trends in foreign exchange and included industry leaders Guy Dickinson, Heads of Markets and Treasurer, HSBC; Teerapol Rattakul, Head of Financial Markets, Siam Commercial Bank and also President of ACI, Thailand; and Soraphol Tulayasathien, Director of Economic Stability Analysis Division, Ministry of Finance. Panellists shared their views on FX market regulatory changes, risks, challenges and opportunities as well as the impact of fintech as a major disruptor to the FX market.

Michael Go, Head of FX Market Development, Asia Pacific at Thomson Reuters, said, "Market volatility and increasing regulatory scrutiny continue to impact FX markets globally. In response, Thomson Reuters is committed to serving the FX community in Thailand and globally with diversified end to end solutions. This is why we want to make it as easy as possible for our clients to find the liquidity they need, have the flexibility to access it efficiently through a choice of venues and order types, and be confident that rigorous market protocols are upheld by Thomson Reuters for all users of our platforms."

Thomson Reuters brought together all of its FX transaction venues onto one platform to create a single point of access to the industry's largest collective independent pool of FX liquidity in 2015. Thomson Reuters request for stream service (FXall QuickTrade), continuous streaming prices (Bank Stream), central limit order books (Matching, Order Book) and conversational dealing platform (Dealing) have now all been fully integrated into the company's next-generation desktop solution FX Trading.

Thomson Reuters FX Awards 2016 Winners List

Best THB FX Spot Contributor

Winner: CIMB Thai Bank PCL

Runner Up: Thanachart Bank PCL

CitiBank, N.A.

Best THB Interest Rates Contributor 2015

Winner: Siam Commercial Bank PCL

Runner Up: CitiBank, N.A.

Standard Chartered Bank (Thai) PCL

Best USD/THB Liquidity Provider

Winner: Krungthai Bank PCL

Runner Up: Bangkok Bank PCL

The Hongkong and Shanghai Banking Corporation Limited

Bank of Ayudhya PCL.

Best Foreign Currency Liquidity Provider 2015

Winner: CIMB Thai Bank PCL

Runner Up: United Overseas Bank (Thai) PCL

Siam Commercial Bank PCL

Thanachart Bank PCL