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Refinitiv, a global provider of financial market data and infrastructure, is doing its part to help customers deliver essential services amid the heightened market volatility.
Refinitiv announced its next step amid the coronavirus pandemic in a press release shared with Finextra. Joseph Mrak, global head of Wealth Management at Refinitiv, discussed the steps that the firm is taking to help its customers with the new technology tools needed to operate and succeed.
“As we work around the clock to help enable our customer operations, statistics from our brokerage transactions and operations service, BETA Systems - point to record trading volumes in recent weeks. February was recorded as the all-time highest month for BETA, but March is up 129% on average and is on track to surpass this record,” Mrak said. “During these periods of intense volatility, the crucial role of technology and reliable and complete data cannot be overemphasized.”
“Our current customers already have access to our advanced tools and solutions. We are offering other market participants, who are also experiencing increased client-service requests, an opportunity to benefit from 60-days of complimentary access to our new flagship workflow solution, Refinitiv Workspace for Wealth Advisors. This web-based application provides market-leading news, research, data, and analytics that will help any financial professional proactively meet the needs of their clients amidst market uncertainty and unprecedented market volatility.”
Meanwhile, Bank of China (BoC) announced earlier that it has teamed up with Refinitiv to create an app called DeepFX that predicts short term price movements in major FX pairs. DeepFX is an artificial-based foreign exchange trading signal prediction application through Eikon, the first released third-party Eikon app from a china-based financial institution.
“With the unprecedented increase in market volatility across global financial markets in recent months, the Bank of China’s DeepFX application is a timely and practical tool to empower users with the insights they need to navigate the turbulent FX landscape,” said Nicole Chen, Head of China at Refinitiv.
