Eikon Auctions are used by central banks around the world as customers respond to ability to complete auctions quickly, transparently and compliantly across multiple asset classes and workflows.
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SINGAPORE/LONDON�-�Media OutReach�-�11
September 2019 -�Refinitiv recently reached a key milestone for its Eikon Auctions
service, having helped facilitate over $1trillion for its central bank and
large corporate customers.
Central Bank auctions in developed,
emerging and frontier markets are critical for managing currency flows, primary
market issuance, supporting import and export strategies and facilitating
international trade and global investing. To do this effectively, central banks
need to be able to run a transparent and compliant process across multiple
asset classes, including FX, money markets, non-deliverable forwards, fixed income
and short-term liquidity management via open market operations that are core to
any central bank.
Eikon Auctions from
Refinitiv has seen rapid growth and adoption in 2019, with a 27% year on year
increase in customers, and is now used by central banks in Europe, the Middle
East, Africa and Asia. Refinitiv is able to address central banks' needs around
data residency and infrastructure costs by offering its solution on either a
hosted or deployed basis. Support is now also in place for Islamic Finance
Shari'ah compliant auctions for both central banks and corporates.
In addition to the growth in adoption at central banks, Refinitiv has also seen
a surge in volumes allocated by large corporates who can use Eikon Auctions to
drive significantly better yields on their short-term deposits.�
As well as proving the
technical and data infrastructure central banks need to run auctions
transparently and compliantly, Eikon Auctions enables central banks and corporates
to quickly reach Refinitiv's extensive community of customers enabling a fast
launch process. Over 400 banks and brokers have now participated in auctions
using Eikon Auctions.
"Fast, efficient and
transparent auctions are critical to central banks and large corporates looking
to tap into capital markets," observed Neill Penney, Managing Director, Co-Head
of Trading, Refinitiv. "With our global technology and data, and our extensive
community of traders and investors, we are uniquely positioned to connect central
banks and corporates with financial institutions, enabling them to fulfill their
market activities simply and efficiently. As the global economy experiences
increased currency turbulence, we look forward to supporting our central bank
customers across all their needs, including auctions, FX matching, benchmarks and
trade reporting."�
About Refinitiv
Refinitiv is one of the world's largest
providers of financial markets data and infrastructure, serving over 40,000
institutions in over 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.