FFastFill signs JPMorgan to CME FX on Reuters application service

FFastFill signs JPMorgan to CME FX on Reuters application service

UK derivatives trading ASP FFastFill has signed JPMorgan Chase futures and options business to the CME FX on Reuters Application Service, which allows banks to trade CME foreign exchange spot and futures products through the Reuters Dealing 3000 system.

The vendor was chosen by Reuters as the launch partner for the project in May 2004 and was responsible for building and maintaining the trade order routing service.

HSBC, Barclays Capital, Bank of America, Royal Bank of Scotland and ABN Amro have previously signed up to the service. FFastFill says as well as using the system in-house, these CME clearing members also offer a service to non-clearing member firms that use the Reuters Dealing 3000 platform.

Antonio Reyes Miras, global head of electronic trading at JPMorgan's futures and options business, says the FfastFill service enhances "our ability to provide market-leading electronic execution solutions to our global client base".

Keith Todd, executive chairman and CEO, FFastFill, says the JPmorgan deal demonstrates the benefits of an application services approach "and our ability to deliver an innovative robust service for the foreign exchange community".

FFastFill shares rose eight per cent, or 0.50 pence, to 6.75 pence in morning trading on news of the deal.

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