Thomson Reuters Survey Finds One In Five Financial Institutions Considering Cryptocurrency Trading In 2018

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Thomson Reuters Survey Finds One In Five Financial Institutions Considering Cryptocurrency Trading In 2018
Thomson Reuters Survey Finds One In Five Financial Institutions Considering Cryptocurrency Trading In 2018 admin May 06, 2018

Cryptocurrency trading by financial firms could increase in 2018 according to Thomson Reuters survey, with approximately 20% of the participants indicating they are considering trading cryptocurrency over the next 3-12 months. The survey was conducted among 400+ clients across all of Thomson Reuters trading solutions including Eikon, REDI, and its FX platforms.

Among those who indicated they would trade cryptocurrencies in 2018, approximately 70% said they were planning to do so over the next 3-6 months with an additional 22% planning to trade over the next 6-12 months. This indicates that cryptocurrency trading is more of a 2018 project than something longer-term. The survey also found generally widespread familiarity with cryptocurrencies.

“Cryptocurrency is still a relatively small part of the trading market, but this survey indicates this niche segment is starting to enter the mainstream of the financial services industry. This is a major change from a year ago,” said Neill Penney, co-head of Trading, Thomson Reuters. “The current priority for our clients appears to be seamless access to news and data around cryptocurrencies to facilitate informed trading decisions. As a leading provider of news, data, and trading capabilities, Thomson Reuters is well-positioned to deliver solutions that address client demand in the growing cryptocurrency market.”

Thomson Reuters delivers transparent cross-asset insight into both traditional and new and emerging asset classes like crypto assets. Thomson Reuters currently provides prices for Bitcoin and other cryptocurrencies via our flagship financial desktop platform Eikon. Thomson Reuters also recently launched a new version of our MarketPsych Indices (TRMI v3.0), which includes the first sentiment data feed for Bitcoin in addition to new and/or enhanced market sentiment data for several asset classes, new user capabilities and coverage.

Thomson Reuters intends to introduce further capabilities in this sector throughout 2018 as it continues to meet the changing needs of our customers.

Thomson Reuters

Thomson Reuters is the world’s leading source of news and information for professional markets. Our customers rely on us to deliver the intelligence, technology and expertise they need to find trusted answers. The business has operated in more than 100 countries for more than 100 years. Thomson Reuters shares are listed on the Toronto and New York Stock Exchanges. For more information, visit www.thomsonreuters.com.

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