Hong Kong â Reuters (LSE: RTR, NASDAQ: RTRSY) today announced that Barclays Capital is the latest bank to go live on Reuters Trading for Foreign Exchange. The Barclays RTFX service will be available initially in the Asia region. Deutsche Bank also plans to go live on Reuters Trading for Foreign Exchange by Q4 this year, adding to the weight of these two leading global FX banks to the service.
Reuters Trading for Foreign Exchange (RTFX) allows banks and their customers to trade foreign exchange from their Reuters desktop. Barclays Capitalâs launch today brings banks, corporate and other financial participants in the Asia region the ability to trade on all 68 currency pairs for which Reuters provides a service. Barclays Capitalâs move raises the total number of live banks on RTFX to six â with another nine expected to go live by the end of the year.
Gyan Newman, Director, Head of Ecommerce for Asia Pacific at Barclays Capital, commented: "Weâre pleased to partner with Reuters to offer clients additional access to our BARX service in Asia, featuring global 24-hour FX liquidity from Barclays Capital and access to Precision Pricing, with up to a 5th decimal place shown."
Barclays Capital is the only bank to offer the Precision Pricing enhancement, via its BARX for FX Trading platform. With Precision Pricing available on RTFX, Asian clients will have access to higher levels of transparency and execution efficiency through pricing up to a 5th decimal place in key currency pairs and a 3rd decimal in USD/JPY and EUR/JPY.
RTFX builds on the Reuters established foreign exchange position, helping banks to reduce costs and expand the reach of their prices. In the five months since launch, RTFX has over 100 price takers actively trading on the system around the world.
Mark Robson, Head of Reuters Treasury and Fixed Income services, said: âWith Barclays, and Deutsche Bank confirming their support, it is clear now that RTFX is not just another multi-bank portal. Reuters is enabling banks and their customers to gain advantage from our global and unique distribution foot-print, and best-in-class transactions capabilities. Reuters is now actively working to grow the liquidity and number of transactions on RTFX to ensure that we add value to all users of the service, quickly."
RTFX brings financial market professionals 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. This capability is supported by the comprehensive, real time news and powerful analytics from Reuters 3000 Xtra and Reuters Dealing 3000 terminals, at no additional cost, allowing price takers to effectively manage their trading positions.
Reuters desktops are used by more than 350,000 financial professionals worldwide. Reuters Dealing 3000 platform is used by nearly 18,000 FX and money market professionals across 4,000 organizations to trade FX spot, forwards, options, futures, plus interest rate and overnight index swaps.