China CITIC Bank International launches Refinitiv EFX distribution platform
September 18, 2020
Hong Kong – Refinitiv, one of the world’s largest providers of financial markets data and infrastructure, today announced that China CITIC Bank International Limited (CNCBI) has adopted Refinitiv Electronic Trading platform to enhance its Foreign Exchange (FX) trading and distribution workflow.
In today's evolving FX markets, banks need flexible trading platforms and tools that provide control over electronic pricing, distribution, and hedging to meet the growing demands of their client base and improve internal efficiency and mitigate operation risks.
With Refinitiv Electronic Trading, over 300 banks across 80 countries globally are already benefiting from a turnkey, next-generation e-commerce FX trading solution. Refinitiv Electronic Trading offers a powerful suite of e-commerce products to shape, configure and automate FX prices to customers through a number of distribution channels and FX venues while streamlining risk management. The platform’s auto-execution and smart order routing methods enable enhanced price discovery and execution with minimal market impact, which have also been critical in helping clients safely cope with much larger volumes from their remote or virtual work environments.
Jeffery Bai, Executive Director, ACEO, Group Head of Wholesale Banking and Treasury & Markets at China CITIC Bank International, said, “In today’s FX market, we see a strong demand for electronic pricing, execution efficiency and stability as the partner of our clients. Through the Refinitiv Electronic Trading platform, we will be offering competitive prices in CNH and other major FX currency pairs electronically, which we believe will improve the operational and risk controlling efficiency for both our bank and our customers.”
David Day, Head of North Asia at Refinitiv, said, “As a leading trading venue and data company for financial markets, we are proud to strengthen our partnership with CNCBI, one of the leading Chinese banks in the offshore market. Through Refinitiv Electronic Trading, CNCBI will have access to an efficient and digitized FX trading platform to drive the on-going growth of its foreign exchange business in both local and international markets. Enabling e-commerce solutions for the industry two decades ago, Refinitiv sits at the intersection of currencies FX venues, technology and regulation globally. We will continue to promote the development of efficient, fair and effective markets.”
See more information on Refinitiv’s FX trading solutions.
Refinitiv is one of the world’s largest providers of financial markets data and infrastructure, serving over 40,000 institutions in approximately 190 countries. It provides leading data and insights, trading platforms, and open data and technology platforms that connect a thriving global financial markets community – driving performance in trading, investment, wealth management, regulatory compliance, market data management, enterprise risk and fighting financial crime. For more information visit: www.refinitiv.com
About China CITIC Bank International Limited
China CITIC Bank International Limited (“CNCBI”) is 75%-owned by CITIC International Financial Holdings Limited (“CIFH”), which in turn is a wholly-owned subsidiary of China CITIC Bank Corporation Limited (“CNCB”). The remaining 25% of CNCBI are owned by Tian Yuan Trading Limited, Hong Kong Guansheng Investment Co., Limited, Anxin Trust Co., Limited, Clear Option Limited and Elegant Prime Limited. By providing value-creating financial solutions to define and exceed both wealth management and international business objectives of Greater China and overseas customers, CNCBI aspires to be “the best integrated financial services institution”, with the highest international standards and capabilities. CNCBI’s footprint in Greater China includes 28 branches and two business banking centres in Hong Kong, as well as branches and presence in Beijing, Shanghai, Shenzhen and Macau. CNCBI also has overseas branches in New York, Los Angeles and Singapore. More information about CNCBI can be found on its website at www.cncbinternational.com.