Thomson Reuters’ acquisition of FXall, which provides electronic FX trading, gives Thomson access to FXall’s customers and means those customers could enjoy an expanded product line and greater liquidity. Thomson Reuters operates one of the main electronic platforms for inter-bank foreign exchange trading, while FXall’s more than 1,300 clients are corporate treasuries, asset managers and brokers.
“This is a great move for Thomson,” says Peter Kane, a partner at Greenwich Associates, a financial services research firm. “They’ll bring the corporate and investment community closer to them, which they need. And they’ll be able to bring extensive IT and finance resources to a business that will probably need those resources to move to the next level.”