Reuters to offer Automated Dealing as an ASP

Reuters to offer Automated Dealing as an ASP

Reuters is to launch a hosted version of its Automated Dealing service for banks wishing to minimise the upfront investment costs of implementing a Web-enabled treasury operation.

The news and information group says the hosted version will act as an application service provider (ASP), allowing banks to develop their own-branded automated dealing platform capable of supporting multiple users across a range of dealing venues within their own networks. It will support price and trade requests from multiple sources including multibank portals such as Atriax, Currenex and FXall simultaneously.

The service can be configured for large or small deployments.

Mike Whitaker, director, Reuters Treasury Services, says the ASP model will enable banks to reduce upfront investment, implement quickly, and minimise the internal resource required to support the service. "The transaction-based fee and low-cost start-up options of the hosted service allow organisations to launch an online FX dealing service quickly and efficiently with minimal investment of time or money," he says.

In a separate announcement, Reuters reports more than twenty-five per cent of its customers worldwide have upgraded to Dealing 3000 since the platform's launch in January 2000. The platform facilitates anonymous electronic matching for the spot market and an electronic broking service for the forward foreign exchange market.

Simon Peppper, a foreign exchange trader at Barclays in London says: "Flexibility makes Dealing 3000 a more personable trading application."

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