Fifth Third to roll out Reuters trading technology

Source: Fifth Third Bank

Fifth Third Bank today announced it has selected the Reuters Electronic Trading - Automated Dealing Client (RET-AD Client) package to provide its corporate and institutional customers with Internet access to electronic trading Foreign Exchange and Money Markets instruments.

With this new capability, real-time prices for relevant currencies are streamed to the client's desktop, allowing traders to initiate and monitor incoming deals. The system allows automatic and manual pricing of trades that are directly returned to the customer, eliminating or reducing the need for manual intervention.

"With increasing trading volumes and pressure on margins, electronic trading is a cost-effective way for banks to meet their customer needs," says Jeff Chapman, senior vice president and director of Capital Markets for Fifth Third Bank. "The Reuters Electronic Trading - Automated Dealing system will allow Fifth Third Bank customers to trade directly with us over the Internet while experiencing all the benefits of straight through processing."

A chat function allows customers to interact directly with Fifth Third Bank traders, and view a real-time log of all transactions, saving time and money.

"The Foreign Exchange marketplace is extremely competitive, and selecting leading edge technology that can grow to meet new business needs is critical," says Matt O'Hara, head of Treasury for Reuters America. "Therefore, we're pleased Fifth Third Bank turned to Reuters for a robust and flexible solution. With the Reuters Electronic Trading - Automated Dealing platform, Fifth Third Bank's corporate and institutional clients can easily trade over the platform of their choice."

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