(MENAFN Press) Thomson Reuters today announced that in recognition of the growing importance of the Middle East and African foreign exchange (FX) dealing markets, the Global Head of FX Transactions has been relocated to the United Arab Emirates.
Announcing the move of Mark Kiley from the companys Singapore office to Dubai, Basil Moftah, Managing Director for Thomson Reuters in the Middle East and Africa, said: This is one of the worlds most important FX trading regions and Marks move here is part of Thomson Reuters strong commitment to supporting the expansion of the regions financial markets.
Additionally, Thomson Reuters today published its average daily FX spot volumes on www.hihifrds.com, its FX and money markets customer portal, for the month of August 2009 which were in excess of 116 billion. This represents the amount traded on Thomson Reuters main FX Spot trading services -Thomson Reuters Dealing, Matching and Reuters Trading for FX. The equivalent figures for June and July were 132 billion and 118 billion respectively.
As a fast growing market, Middle East investors, traders and regulators need sophisticated and reliable products to manage and monitor this important asset class, Kiley said. Our broad range of FX services supports thousands of trading communities around the world, all of which are at various stages of development and with different requirements.
Kiley joined Reuters in 1994 following a successfully career in trading spot, forward and money markets in the City of London. Kiley has worked primarily in London but spent the last two years in Singapore before his transfer to Dubai.
Thomson Reuters Markets provides direct trading and prime brokerage services to the foreign exchange markets around the world. Foreign exchange instruments covered include spot, forwards, options, non-deliverable forwards. These services are available on Thomson Reuters Dealing which is also widely used in the money and precious metals markets.
Thomson Reuters provides comprehensive coverage of Middle East and African markets including real-time information from all major equity markets, funds, indices and money markets. Customers can also access data on Sukuk, Islamic loans and other Islamic instruments, plus strong regional news coverage including an Arabic news service. In addition, Thomson Reuters provides broad trading capabilities for listed instruments as well as the foreign exchange and money markets.
Foreign exchange is the most actively traded asset class in the world. For nearly 30 years, Thomson Reuters has been an integral part of the global Treasury markets and today it is the leading provider of trading, automated dealing and information products and solutions in this space.