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ICICI Bank Sets Up FX Trading Platform

India’s ICICI Bank has developed a foreign exchange trading platform for large corporate customers that will help them to cover their market risk.

The system has the capability of booking trades from centralised or decentralised client locations and provides a real-time deal log with complete deal history and straight-through processing.

“ICICI Bank E-Dealz through the full-fledged customised system can now book foreign exchange deals in less than five minutes, something that took a day earlier,” Shilpa Kumar, head of the global markets group tells the Business Standard.

With this particular system, Kumar says, the bank is targeting customers who do a significant number of forex transactions on a daily basis.

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