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Krung Thai Bank signs for Reuters FX portal product; New Star extends 3000Xtra deal

29 April 2004  |  4296 views  |  0 Krung Thai Bank signs for Reuters FX portal product; New Star extends 3000Xtra deal

Bangkok-based Krung Thai Bank is deploying Reuters' hosted foreign exchange dealing platform, Reuters Electronic Trading - Automated Dealing (RET-AD).

The bank will use the software to provide online FX and money market dealing service to its corporate customers.

The RET-AD system will be integrated with Reuters' Kondor+ risk system - which Krung Thai has been using since last year - to provide customers with automated FX prices and trading services via its Web site.

Pongsathorn Siriyodhin, first senior executive vice president, Krung Thai Bank, says: "With the successful implementation of both Reuters electronic FX trading system and risk solution, the bank is able to automate a significant percentage of its FX transactions.

"When interfaced to the bank's front and mid-office risk systems, the bank will be able to see all its positions marked to market in real-time."

Krung Thai, which is the first bank in Thailand to licence RET-AD, expects to go live with the system in Q3.

Separately, UK fund manager New Star Asset Management has extended its contract for the thin client version of Reuters 3000Xtra desktop, which it will roll out to replace its existing Bloomberg terminals.

The 3000 Xtra desktops will run on Reuters' hosted Market Data System (RMDS) which manages financial content in real-time across trading environments. Charles Hornung, head of IT at New Star, comments: "The fact that it is hosted means we are able to have a lightweight infrastructure for our IT systems."

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