Reuters signs eight to fixed income trading service

Reuters signs eight to fixed income trading service

Reuters has signed a further eight banks to its recently launched fixed income trading service, bringing the total number of firms on the system to 20.

Barclays Capital, Calyon, Danske Bank, HSBC, HypoVereinsbank, IXIS CIB, Société Générale CIB and West LB will be joining Reuters Trading for Fixed Income (RTFI) which allows banks and financial institutions to trade fixed income securities over the vendor's desktop products.

Reuters launched the service in February in a bid to compete against rivals Bloomberg and Thomson Financial in the bond markets. RTFI initially featured tradable prices from 12 banks.

Martin Haines, global head of sales, RTFI, says: "The continued on-boarding of our price making banks and now the assets from the Telerate acquisition will further support the growth of RTFI."

Reuters says it has also enhanced the service since launch, with improved integration of the system with Reuters Messaging. Furthermore, JPMorgan - one of the first banks to sign up to FTFI - has gone live with a new FIX-compliant interface which supports both market standard trading models of competitive 'request-for-quote' and 'click-to-trade'.

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