September 11, 2019
Refinitiv helps unlock global capital markets for a growing number of central banks, with $1 trillion facilitated so far
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.
SINGAPORE/LONDON – 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.”
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.