London -- Reuters (LSE: RTR) today announced that eight new banks plan to join its recently launched fixed income trading service, bringing the total numbers of banks committing to Reuters Trading for Fixed Income to 20. Barclays Capital, Calyon, Danske Bank, HSBC, HypoVereinsbank, IXIS CIB, Société Générale Corporate and Investment Banking and West LB will be joining Reuters Trading for Fixed Income which allows banks and financial institutions to trade fixed income securities over their Reuters desktops.
Reuters Trading for Fixed Income (RTFI) was launched in February with the commitment of 12 leading fixed income banks including ABN AMRO, BNP Paribas, Commerzbank, Deutsche Bank, Dresdner Kleinwort Wasserstein, Goldman Sachs, JPMorgan, Rabobank, RBC Capital Markets, Lehman Brothers, Morgan Stanley and UBS.
The company also announced further enhancements to the service. Reuters and JPMorgan announced that JPMorgan is the first bank to go live with RTFI’s new "FIX 4.4" interface. This FIX interface supports both market standard trading models of competitive ‘request-for-quote’ and ‘click-to-trade’. FIX or Financial Information eXchange protocol is a well-established market standard in the equities arena which provides a common, global language for electronic trading. Reuters is one of the first vendors to deliver a FIX 4.4 compliant interface for fixed income trading, further illustrating Reuters commitment to open systems and the implementation of market standards.
Reuters has also enhanced the integration of Reuters Messaging with RTFI. Reuters Messaging allows fixed income professionals to improve their communication workflow. The latest version allows users to easily illustrate and support market advice by easily sending graphs, news, quotes and company data from Reuters products through a simple drag-and-drop functionality. Users can also boost customer relations with the ‘contact manager’ and ‘archive’ features which track when conversations last took place and what was discussed.
Martin Haines, Global Head of Sales, Reuters Trading for Fixed Income, said: "Reuters is really pleased with the steady take-up and interest in Reuters Trading for Fixed Income and the good support from our price maker customers. The continued on-boarding of our price making banks and now the assets from the Telerate acquisition will further support the growth of RTFI."
Reuters Trading for Fixed Income allows asset managers, hedge funds and corporate treasurers to trade more than 15,000 cash fixed income securities, such as domestic and international corporate, government and emerging market bonds, across 25 currencies.
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