17 August 2017
visit www.avoka.com

HSBC selects Reuters to deliver outsourced FX services

14 April 2003  |  5774 views  |  0 Reuters London

HSBC Group has contracted with Reuters to provide its partner banks and corporate institutions with outsourced foreign exchange (FX) trading services in its key markets around the world.

Reuters and HSBC signed a letter of intent early last week and are discussing implementation plans of the outsourced service, which will be based on a new version of Reuters' automated dealing software, developed following the vendor's acquisition of AVT Technologies.

The service will utilise AVT Technologies' Echo FX product, which supports the outsourcing of pricing of FX transactions. Banks can use these capabilities to offer partner firms the ability to create their own branded electronic FX services.

Tony Cripps, head, e-commerce, HSBC Global Markets, says the bank reviewed a number of the available alternatives but the strength of the Reuters automated dealing offering and its ability to provide an ASP service provides HSBC with a powerful proposition for its white-label customers.

Mark Redwood, managing director, automated dealing technologies, Reuters, adds that the outsourcing of liquidity is a major driving force in the evolving electronic FX market.

Reuters acquired UK trading systems vendor AVT Technologies last December and has since set up its Automated Dealing Technologies business unit. Reuters CEO Tom Glocer says the deal with HSBC endorses the acquisition of AVT and extends the vendor's community building and trading capabilities.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Reuters upgrades Kondor; adds NumeriX analytics

Reuters upgrades Kondor; adds NumeriX analytics

08 April 2003  |  4613 views  |  0 comments
Reuters and IBM in Asia Pacific risk ASP deal

Reuters and IBM in Asia Pacific risk ASP deal

03 April 2003  |  5152 views  |  0 comments
Reuters signs three to order management and execution tool

Reuters signs three to order management and execution tool

31 March 2003  |  4840 views  |  0 comments
Reuters hires Microsoft's David Gurle to head collaboration services

Reuters hires Microsoft's David Gurle to head collaboration services

28 March 2003  |  6270 views  |  0 comments
Global volatility spurs record Reuters FX volumes

Global volatility spurs record Reuters FX volumes

27 March 2003  |  4609 views  |  0 comments
Santander and Schleswig-Holstein track credit risk with Reuters

Santander and Schleswig-Holstein track credit risk with Reuters

24 March 2003  |  4917 views  |  0 comments
FXall to use Reuters instant messaging

FXall to use Reuters instant messaging

20 March 2003  |  5548 views  |  0 comments
Reuters crashes below 100 pence a share level; knocks Thomson off GKM

Reuters crashes below 100 pence a share level; knocks Thomson off GKM

12 March 2003  |  7212 views  |  0 comments
Reuters steals positions from Thomson with new Fahnestock contract

Reuters steals positions from Thomson with new Fahnestock contract

06 March 2003  |  4954 views  |  0 comments
Reuters 3000Xtra available for thin client deployment

Reuters 3000Xtra available for thin client deployment

04 March 2003  |  6887 views  |  0 comments
Tullett Financial delivers MortgageMaker over Reuters

Tullett Financial delivers MortgageMaker over Reuters

03 March 2003  |  5196 views  |  0 comments
Tony Kirby made redundant as Reuters rethinks STP

Tony Kirby made redundant as Reuters rethinks STP

03 March 2003  |  5893 views  |  0 comments
Korea First Bank implements Reuters' Kondor+

Korea First Bank implements Reuters' Kondor+

27 February 2003  |  4625 views  |  0 comments
Reuters extends Factiva distribution contract

Reuters extends Factiva distribution contract

25 February 2003  |  5796 views  |  0 comments
HSBC Asset Management deploys First Call Analyst

HSBC Asset Management deploys First Call Analyst

20 February 2003  |  2862 views  |  0 comments
Reuters appoints Devin Wenig executive director

Reuters appoints Devin Wenig executive director

18 February 2003  |  7121 views  |  0 comments
Reuters reports record loss; cuts 3000 jobs

Reuters reports record loss; cuts 3000 jobs

18 February 2003  |  7678 views  |  0 comments
Brief: Reuters appoints Jon Robson global head of fixed income

Brief: Reuters appoints Jon Robson global head of fixed income

17 February 2003  |  8625 views  |  0 comments
Reuters sells Kondor+, RTP combo to Wing Hang Bank

Reuters sells Kondor+, RTP combo to Wing Hang Bank

13 February 2003  |  6918 views  |  0 comments
HSBC Offshore revamps Web banking service

HSBC Offshore revamps Web banking service

13 February 2003  |  4161 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.abe-eba.euvisit www.dorsum.euvisit www.worldpaymentsreport.com

Top topics

Most viewed Most shared
Coinbase raises $100mCoinbase raises $100m
10385 views comments | 14 tweets | 14 linkedin
DBS Bank launches online car selling marketplaceDBS Bank launches online car selling marke...
9780 views comments | 13 tweets | 11 linkedin
China preps central clearing house for mobile payments providersChina preps central clearing house for mob...
9681 views comments | 8 tweets | 15 linkedin
Monzo appoints Curve co-founder Foster-Carter COOMonzo appoints Curve co-founder Foster-Car...
8076 views comments | 1 tweets | 2 linkedin

Featured job

Competitive
London, UK (or flexible)

Find your next job