Thomson Reuters Changes FX Trading Rules
The updated rule book will include a set of controls at the platform level, such as a minimum quote life that ensures longevity of orders in the book and gives counterparties a fair chance to trade those orders. Additionally, it will provide the introduction of a minimum tick size to stabilize the prices and dissuade the type of behavior that has been identified as detrimental for the market.
"As an FCA-regulated trading venue, Thomson Reuters has a responsibility to guard that the trading behaviors and practices on its Matching platform comply with the market conduct rules that govern MTFs," says Phil Weisberg, global head of FX at Thomson Reuters. "Through a combination of platform controls and behavioral rules, the new updated rule book will seek to enhance liquidity for all clients trading on Thomson Reuters Matching."
Thomson Reuters has been working in consultation with market participants over the last year to define the new standards.
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