Deutsche Bank, Dexia, HSBC and Socit Gnrale have gone live on Reuters’ bank-to-client platform, Reuters Trading for Foreign Exchange (RTFX).
In addition, Citigroup has become the latest bank to commit to providing tradable prices to the service and plans to go live in Q3, Reuters says.
RTFX allows banks and their customers to trade foreign exchange from their Reuters desktop. Reuters says the launch by the latest round of price makers gives banks, corporates and other financial participants the ability to quickly and securely execute spot and forward FX and manage post trade processing through a single sign-on.
Seamus O’Sullivan, global head of sales for RTFX at Reuters says: “With Deutsche Bank, HSBC, Socit Gnrale 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.”
Reuters has 21 price makers on the system and over 500 price takers globally.
Alan Clarke, global head of e-FX at HSBC, says: “Connecting HSBC’s pricing engine to RTFX allows us to trade with an increasing number of client relationships”.