Thailand-based Siam Commercial Bank has gone live with 'scb-fx,' a Web-based foreign exchange trading service using the Cognotec AutoDeal Lite e-commerce platform.
The bank, which has a network of over 400 branches across Thailand, is currently rolling the service out nationally. Siam Commercial claims to be the first Thai bank to launch Internet-based FX dealing.
Through the Cognotec Liquidity Linq feature, the bank will use a liquidity providing institution to provide a 12-hour a day service in all major and Southeast Asian currencies to its branches and clients.
The bank will also act as a Thai Baht liquidity provider, offering live executable prices to banks via AutoDeal Lite. These banks will be able to execute back-to-back deals on a real-time basis with Siam Commercial to cover their own client-related exposures in the Thai Baht.