MANILA, Philippines - The Philippine Dealing System Holdings Corp. (PDS Group) and Thomson Reuters announced that they have entered into a strategic agreement to jointly deliver enhanced products and services to the members of the PDS Foreign Exchange (FX) and Fixed Income Trading Communities in the Philippines.
The PDS Group currently operates the USD/PhP FX Spot Trading System for the Bankers Association of the Philippines (BAP) Member Banks through a system provided by a NASDAQ OMX and operates the USD/PhP Payment versus Payment (PVP) System - the Philippine FX Settlement System, as well as the Philippine Domestic Dollar Transfer System (PDDTS).
Thomson Reuters provides the USD/PhP FX Swap and FX Forward Trading System for the BAP Member Banks and is the premiere system for FX Spot and Forward trading of global currencies by Philippine banks. Thomson Reuters also provides trading capabilities for Interest Rate Swaps and Forwards.
The strategic alliance draws on these strengths to provide bolder and wider opportunities to the PDS Group FX community. The current PDS Group platform will be enhanced with fixed and conversational formats to allow the community to employ varied techniques for operating within the quote-driven environment.
Access opportunities for the FX community will be complemented with a matching capability for the US$/P Spot market. The partnership looks forward to making available new market services for Forwards and Swaps to the FX community.
And the entire spectrum of transactional capabilities will be supported by a settlement system that uses Thomson Reuters market leading straight through processing (STP) facilities.
