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RBS adds FiX service to Bloomberg Professional; upgrades FX Electronic OrderBook

20 July 2006  |  2302 views  |  0 Source: Royal Bank of Scotland

The Royal Bank of Scotland, Global Banking & Markets, announces that its RBS FiX service is now available via the Bloomberg Professional Service complementing the existing screen based trading service which offers customers straight-though-processing (STP) and transparent trading in foreign exchange.

RBS FiX generates tradable Spot and Forward foreign exchange benchmark prices providing users with a transparent market benchmark price that is independently audited and published to the market.

RBS FiX provides independent mid-market spot rates for over 60 of the most actively traded currencies as well as offering forward point fixings for periods up to 12 months for major and emerging markets currencies. FX Rates are being calculated in regular fixing times across Asian, European and North American time zones. Five minutes after each set fixing, the rates are published on Bloomberg and can be viewed on the RBSQ page.

Stamos Fokianos, Head of Product Management, RBS eCommerce said: In an OTC environment, such as FX, where volume transparency is not available in the same way as it is in an exchange infrastructure, the benchmarking of rates is a fundamental tool for clients that seek accuracy and audit scrutiny. There are several fixings in the marketplace, but RBS has raised the bar to new levels by not relying solely on rate snapshots, but instead on true algorithmic results. This Bloomberg initiative allows us to reach our clients in the platform of their choice.


Separately, following the successful launch of its FX Electronic Orderbook at the beginning of 2006, The Royal Bank of Scotland, Global Banking & Markets (RBS) is pleased to announce the addition of new features to make using the Orderbook system even more powerful and easy to use for clients.

Orderbook allows clients to submit directly orders for automatic or manual execution via the RBS trading desks – both for Spot and Forward rollover orders. The new features include Perpetual Orders, Stop Loss Managed (with protection) Orders, Call Orders, Cloning orders from both the order entry ticket and the real time blotter, Overriding email & sms standing instructions for specific Orders.

The new functionality complements existing capabilities including Auto execution, Stop Loss one touch, Forward Rollovers, Multi level strategies and Blackout periods.

Stamos Fokianos, Head of Product Management eCommerce, RBS, said: "Order Management is a fundamental requirement by all market participants, in all segments. The whole process should be done quickly and effectively, in an effort to optimise execution and protect against market adversity. The flexibility of choosing different ways of executing those Orders, especially in a Stop-Loss scenario, is realised using the most advanced technologies available to us. We continuously strive to service our clients better and deliver more choice to them in how they interact with RBS and the new added features are a direct response to that client feedback."

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