Reuters signs five to FX trading service

Reuters signs five to FX trading service

UK news and information group Reuters has signed Deutsche Bank, Dexia, HSBC, Société Générale and Citigroup to its foreign exchange trading service.

The vendor says Deutsche Bank, Dexia, HSBC and Société Générale have gone live with Reuters Trading for Foreign Exchange, which is deliverd over its 3000 Xtra desktop terminals.

Citigroup is the newest bank to commit to the service and plans to go live with the service in Q3.

Seamus O'Sullivan, global head of sales for RTFX at Reuters, says with the new banks 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," he adds.

Alan Clarke, global head of e-FX at HSBC, comments: "Connecting HSBC's pricing engine to RTFX allows us to trade with an increasing number of client relationships. With our global currency coverage it is now possible to trade in 84 supported currencies with HSBC on RTFX."

Earlier this month Reuters said it was forming a 50:50 joint venture with the Chicago Mercantile Exchange (CME) to establish a centrally-cleared, global foreign exchange marketplace, called FXMarketSpace, which is being billed as the world's first centrally-cleared global FX marketplace.

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