Bank of China teams up with Refinitiv to launch new foreign exchange price prediction app DeepFX

Uses artificial intelligence to predict short term price movements in major FX pairs for market participants and is available to global users of Eikon

 

BEIJING, CHINA – Media
OutReach – 24
March 2020 – Bank of China has launched DeepFX, an
artificial intelligence-based foreign exchange trading signal prediction
application through Eikon, the first released third-party Eikon app from a
China based financial institution.

 

DeepFX was developed by the Digital Asset Management Department of Bank
of China using deep learning technology to predict the short-term price
movements of major foreign exchange currency pairs. The app covers six currency
pairs including EURUSD, AUDUSD, GBPUSD, USDCAD, USDJPY and USDCHF, and is ideal
for traders, quant developers heads of fintech innovation and data scientists.

 

The ‘Lite’ version released provides a 5-minute interval real-time FX
trade signal forecasting service, while displaying back-test results within 10
days (see the chart below). Global Eikon users can subscribe to the app for
free through Refinitiv’s App
Studio.

 

“With the unprecedented
increase in market volatility across global financial markets in recent months,
the Bank of China’s DeepFX application is a timely and practical tool to
empower users with the insights they need to navigate the turbulent FX landscape,”
said Nicole Chen, Head of China at Refinitiv. “We are pleased to see Bank of
China leveraging our platform to showcase their AI technology and financial
expertise for customers. We certainly look forward to having more financial
institutions take advantage of our open platform to build out their service
offerings in China.”

 

Refinitiv
Eikon enables financial professionals to access an incredible depth and
breadth of financial analysis data to make smarter decisions, and is also a
flexible, open platform that’s purpose-built for trade innovation, allowing
customers connect with the world’s largest directory of verified financial
professionals.

 

App Studio expands the Eikon platform by offering
users access to specialized apps built by a wide range of providers, as well as
the chance to integrate or even build their own apps, all within a single
workspace.​​

About Refinitiv

Refinitiv is
one of the world’s largest providers of financial markets data and
infrastructure, serving over 40,000 institutions in approximately 190
countries. It provides leading data and insights, trading platforms, and open
data and technology platforms that connect a thriving global financial markets
community — driving performance in trading, investment, wealth management,
regulatory compliance, market data management, enterprise risk and fighting
financial crime. For more information visit: www.refinitiv.com