The State Bank of Vietnam (SBV) on October 8 inaugurated and put into use a system of collecting and processing foreign exchange transaction information in the inter-bank foreign exchange (FX) market via the Reuters Dealing system.
The system was built and provided by Thomson Reuters, which is the world’s leading company in providing solutions to gather, manage, store and analyse FX transaction information, under a contract it signed with the SBV in January this year.
Based on the Reuters Dealing electronic transaction system, which is widely used by many banks in Vietnam and the world, the system allows the immediate count of all inter-bank FX transactions conducted via the Reuters Dealing system.
According to a representative from Thomson Reuters, the system will contribute to improving the SBV’s management, while promoting the long-term development of the inter-bank FX market.
The SBV has applied the system in more than 60 financial institutions that have FX transactions with the bank. The system is expected to be used for other credit organisations in the future.-VNA