Standard Chartered Bank and The Royal Bank of Scotland have joined the board of multi-bank foreign exchange portal, FXall.
The bank-backed corporate currency exchange has announced the addition of Standard Chartered Bank as a new equity partner, and an increased investment by existing equity partner The Royal Bank of Scotland.
Mike Rees, group head of global markets at Standard Chartered Bank, says the bank chose to support FXall because it provides access to the wide range of emerging market currencies the financial institution deals in.
Peter Nielsen, global head of sales and distribution at the Royal Bank of Scotland, adds: “The portal is secure, reliable and capable of dealing with all transactions. As an early backer of FXall, we want to continue to be instrumental in the ongoing development of the portal, maintaining its position as the premier offering for clients.”
The announcement follows the exchange portal's recent investment win from Credit Agricole Indosuez and BNP Paribas earlier this month.