October 29, 2018
PTT Exploration and Production Adopts Refinitiv’s FXall Trading Platform
BANGKOK – Leading Thai energy company PTT Exploration and Production Public Company Limited (PTTEP) has implemented Refinitiv’s award-winning FXall trading platform and “Settlement Center” post-trade solution for managing their FX transactions. Together with Eikon, Refinitiv’s flagship data terminal, PTTEP is the first Thai corporate to adopt the end-to-end suite of services covering pre-trade, trade and post-trade phases. By technically integrating FXall with their internal system, PTTEP are able to maximize the efficiency of their trading process, reduce operational risk and complement existing workflow.
As part of the service, PTTEP will be able to seamlessly upload orders to FXall, execute on behalf of different subsidiary entities with their various relationship banks, standardize the trade confirmation process using Settlement Center, and capture trade execution data electronically. FXall Trade Performance Analytics will help to analyze trade executions and identify new opportunities to improve performance.
PTTEP executed their first production trades in early October, and the growing number of FXall price-maker banks in Thailand is providing increasingly deep and broad liquidity for electronic trading.
Yongyos Krongphanich, Executive Vice President, Finance and Accounting Group, PTTEP commented, “This collaboration between PTTEP and Refinitiv is considered an important step for PTTEP in managing its foreign exchange risk management and streamline back-end processes. This will further improve company’s competitiveness and support sustainable growth in this challenging digital era.”
Nigel Fuller, Head of Market Development, ASEAN, Refinitiv commented, “Refinitiv is extremely pleased to welcome PTTEP to the FXall community. We believe that this move by such a significant market participant, and the knock-on effect in developing the electronic FX market in Thailand, will pave the way for other corporates in Thailand to seek best-practice solutions in FX trading. We will continue our campaign to support all market players in adopting FX e-trading.”
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.
PTT Exploration and Production Public Company Limited (PTTEP), a subsidiary of PTT Public Company Limited, is a Thai petroleum exploration and production company dedicating itself to providing a sustainable petroleum supply to Thailand and the countries it operates in. As of June 30, 2018, PTTEP had exploration and production projects in 11 countries worldwide. The Company continues to ensure energy sustainability by implementing both a new long-term organizational strategy and a business plan that will support its aspiration to become a leading exploration and production company in Asia.
Head of PR, Asia Pacific, Refinitiv
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