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.”