Banks live on FXall money markets platform

Banks live on FXall money markets platform

Multi-bank foreign exchange trading portal FXall has launched a new money markets platform, designed to streamline trading by delivering straight-through-processing (STP) and workflow tools for users to split deposits across multiple banks.

The platform, which went live in June 2006, is supported by a number of banks including ABN Amro, Barclays, ING, KBC, Lloyds, and RBS.

FXall says more than 65 institutions are now participating in the service.

The system allows users to split deposits across multiple providers, based on relationship or credit criteria, enter into bilateral dialogues with providers to fine-tune rates and amounts, and automatically roll over deposits without opening a new trade ticket.

Confirmation matching can also be autmated through FXall's post-trade platform, Settlement Centre.

The platform currently supports cash loans and deposits. FXall says support for additional money market instruments is planned for future releases.

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