Techcombank was honoured in the Top 4 Most Volume Traded Bank of Matching in FX Trading Awards 2021 by Refinitiv. — Photo courtesy of the bank

Techcombank was honoured in the Top 4 Most Volume Traded Bank of Matching among the winners of Refinitiv, an LSEG business’s FX Trading Awards 2021 for Viet Nam’s trading community.

Tran Ngoc Nga, Business Director of Refinitiv Viet Nam and Myanmar, said Viet Nam FX market had grown strongly and steadily over the years. The average size of Viet Nam’s forex trading on the interbank market through the Refinitiv FXT system had increased from US$1.2 billion to $2.5 - 3 billion a day in the past few years.

In particular, Techcombank's dynamism had always been appreciated based on its good customer base and experience in performing many large-value foreign currency conversion transactions. Techcombank made a strong impression in the role of a leading market maker, making a significant contribution to promoting the development of the foreign exchange market in Viet Nam, she added.

Phan Thanh Son, Deputy CEO - Head of Global Transaction Services at Techcombank, said: “This is the result of a process of outstanding improvement efforts to provide optimal solutions in technology as well as product architecture to customers under the “Customer-centred” strategy. The award is a recognition, as well as motivation for us to continue to reinforce the trust of customers and partners in the ability to handle large-scale transactions. From there, enhancing its role in creating liquidity, professionalism as well as the healthiness of the Vietnamese foreign exchange market according to the State Bank of Viet Nam's direction.”

This is the first time Refinitiv has published the ratings of Vietnamese banks on Matching trading volume, which means international recognition of the growing size of the forex trading market in Viet Nam. Refinitiv rankings are reviewed based on actual US trading volume statistics compiled in 2020, for 46 banks in Viet Nam that are members of the Refinitiv interbank foreign currency trading system (Refinitiv FX Matching).

Refinitiv is a member of the London Stock Exchange Group (LSEG), the world's largest stock exchange and financial market data provider founded in 1801, with revenue of $6.25 billion and more than 40,000 customers and 400,000 end users in more than 190 countries and regions around the world. In 2019, the FX Matching system was officially approved by the central bank and used in the foreign exchange market of Viet Nam. — VNS