Thomson Reuters said it began providing high-speed information and trading services to foreign currency trading firms, from its London data centers.
The FX services are being provided to trading firms throughout the world, via its high-performance data and trading infrastructure known as Elektron.
The services include low latency connections to spot market currency trading applications hosted by Thomson Reuters, as well as other sources of liquidity in currency markets, the firm said.
Thomson Reuters said the move into foreign currency came in response to the rapid growth in high frequency FX trading. The Aite Group estimated, Thomson Reuters said that high-speed trading strategies will account for more than 40 percent of overall currency trading volume by the end of 2012.
Through Elektron clients will connect to the Thomson Reuters Matching liquidity pool as well as sources of spot and derivatives liquidity from other providers. The service will also include single-dealer price feeds from banks.
“Clients leveraging our Elektron Hosting facilities can now fuel their trading applications with the most complete set of connectivity, information and trading technology services on the market,” said Jon Robson, president of Enterprise Solutions at the company.
The clients can feed their algorithms with data fromThomson Reuters Dealing Aggregator and Thomson Reuters Machine Readable News.
Elektron works across different types of financial instruments and works worldwide, from the London data centers.
The Thomson Reuters Matching service servces 1,100 subscriber organizations on 54 spot currency pairs.
The expansion into currency exchange comes less than a month after a shakeup in the Markets division at Thomson Reuters. Elektron is one of the two main information and trading platforms from the division, for trading clients.
In the shakeup, Devin Wenig left his position as chief executive of the Markets division.