London – Reuters (LSE: RTR, NASDAQ: RTRSY) today announced that Deutsche Bank, Dexia, HSBC and Société Générale are the latest banks to go live on Reuters Trading for Foreign Exchange. In addition, Citigroup became the newest bank to commit to the service and plans to go live in Q3. These major FX banks add further weight to the dealer to customer foreign exchange trading service.
Reuters Trading for Foreign Exchange (RTFX) allows banks and their customers to trade foreign exchange from their Reuters desktop. The launch by this latest round of price makers brings banks, corporate and other financial participants around the world the ability to quickly and securely execute spot and forward FX and manage post trade processing through a single sign-on, utilising Reuters unrivalled global desktop footprint in the FX marketplace.
Seamus O’Sullivan, Global Head of Sales for RTFX at Reuters, commented: “With Deutsche Bank, HSBC, Société Générale and Dexia on the service, RTFX now has the liquidity and support from some of the biggest names in FX. Our focus is to continue to grow the liquidity and number of transactions on RTFX to ensure that we add value and make this a leading foreign exchange transaction service.”
RTFX builds on the Reuters established foreign exchange position, helping banks to reduce costs and expand the reach of their prices. RTFX has the support of 21 price makers and over 500 price takers from around the world.
Reuters Trading for Foreign Exchange has the backing of a number of the industry’s key players and comments from today’s new price makers include:
Vikas Srivastava, Citigroup Global Head of Fixed Income Ecommerce, said: “We are delighted to add RTFX to our client offerings and look forward to leveraging the global footprint of Reuters desktop to distribute our liquidity to clients.”
Alan Clarke, Global Head of e-FX at HSBC, commented: “Connecting HSBC’s pricing engine to RTFX allows us to trade with an increasing number of client relationships. With our global currency coverage it is now possible to trade in 84 supported currencies with HSBC on RTFX”.
Reine Dossou, Head of e-business Europe at Société Générale Corporate and Investment Banking, commented: “RTFX may be a very complementary e-trading platform for SG which should allow us to optimize our presence among RTFX’s clients.
RTFX will be showcased at the ACI World Congress opening in Manila on 25 May this week.