First Filipino bank to adopt solution to strengthen presence in local, foreign exchange markets

MANILA, PHILIPPINES - Media OutReach - 17 July 2019 - Union Bank of the Philippines (UnionBank) announced today it has adopted Refinitiv's Electronic Trading(ET) solution to power its business in the Philippines and strengthen itspresence in both the local and international foreign exchange markets.

In the Southeast Asian region, electronic trading has gained groundsince banks require flexible trading platforms and tools that provide controlover electronic pricing, distribution and hedging that meet the changingdemands of their client base whileimproving efficiency through automation. Being plugged in to rapidly growing Asian wealthopportunity, financial institutions are looking for an effective tool to increasetheir competitiveness. 

Through ET over 300 financial institutions across80 countries globally are already benefiting from a next-generation e-commercetrading platform. Accessible via FXT, the single source of access to preferred FXtrading venues, ET offers a powerful suite of e-commerce products to shape,configure and automate FX prices to customers while streamlining riskmanagement.

"As the leading provider of trading andanalysis platforms for foreign exchange markets, we are honored to be entrusted by UnionBank. We have been present in the Philippinesfor over 70 yearsand the country has greatpotential to become a leading Asian financial centre. As the first local bank to adopt Refinitiv's ETsystem, UnionBank will have access to an efficient anddigitized FX trading platform to ensure its nationwide branch network is more connected, enabling theon-going growth of its FX business. We look forward to deepening our partnership along UnionBank's FX digitaljournal," said Luke Elliott, Director ofTrading for Asia Pacific at Refinitiv.

"Our adoption of Refinitiv's electronic tradingallows us to distribute reliable and live prices to our branch network using acloud-based platform with straight-through processing for operating efficiency.We aim to be the first bank to provide an executable live FX platform thatwould link corporate clients to the dealing room via the internet resulting to enhancedcustomer experience," said UnionBank Chief Finance Officer and TreasurerJose Emmanuel Hilado.

For more information about Refinitiv FX solutions, pleasesee here.

About Refinitiv

Refinitivis one of the world's largest providers of financial markets data andinfrastructure, serving over 40,000 institutions in over 190 countries. Itprovides leading data and insights, trading platforms, and open data andtechnology platforms that connect a thriving global financial markets community- driving performance in trading, investment, wealth management, regulatorycompliance, market data management, enterprise risk and fighting financialcrime.

About Union Bank of the Philippines

Union Bank of the Philippines (UnionBank) hasconsistently been recognized as one of Asia's leading companies in banking andfinance, ranking among the Philippines' top 10 universal banks in terms of keyperformance ratios in profitability, liquidity, solvency and efficiency.