Resona Bank signs up to Reuters FX trading portal
26 January 2004 | 5200 views | 0
Japan's Resona Bank is installing Reuters' hosted foreign exchange dealing platform, Reuters Electronic Trading - Automated Dealing (RET-AD).
Resona will use the platform, which is scheduled to go live in April, to provide online FX dealing services to its corporate clients.
The new system will allow customers to trade on real time, executable foreign exchange prices via Resona Bank's Web site.
Nobuyoshi Yamaguchi, executive officer, corporate business division, Resona Bank, says: "We will be able to automate existing FX operations, providing more convenient and faster services to our small to mid-size enterprise customers. Additionally, by choosing Reuters hosted option we will be able to offer a service at a lower cost than if we had developed independently."
Reuters Electronic Trading for Automated Dealing supports both deployed and hosted services as well as the outsourcing of the pricing of foreign exchange transactions. Banks can use the system to create branded electronic FX services.