Reuters enhances FX Prime Brokerage for Matching service
21 January 2008 | 3076 views | 0
Reuters (LSE: RTR; NASDAQ: RTRSY) today announced that it has launched its enhanced Prime Brokerage for Matching on Reuters.
The service enables banks, hedge funds and other buy-side institutions to access Reuters wholesale foreign exchange price matching community via a prime brokerage model.
The enhanced service, which builds on the already successful prime brokerage business, will allow institutions to access liquidity and trade on Spot Matching for Reuters via keyboards as well as a trading Application Product Interface (API). Banks and institutions providing prime brokerage services on Spot Matching on Reuters include ABN AMRO, AIG Financial Products, Bank of America, Barclays Capital, Deutsche Bank, Goldman Sachs, JPMorgan, Rabobank and Royal Bank of Scotland. More than ten prime broker clients are already using the enhanced service.
Prime brokerage trading volumes on Spot Matching on Reuters represent a significant and growing percentage of Reuters spot business. Spot Matching on Reuters is one of the premium sources of liquidity in the interbank market with over 1,100 institutions in 45 countries actively trading in over 30 currency pairs.
The enhanced service augments the suite of Reuters FX products which includes Dealing on Reuters, Spot and Forwards Matching on Reuters, FXMarketSpace on Reuters and Reuters Trading for Foreign Exchange.
Jas Singh, Reuters Global Head of Treasury, said: "Prime Brokers for Matching on Reuters provides anonymous, real-time access to the interbank FX spot market. Our latest enhancements provide new opportunities for more of our customers, giving them access to deep and broad liquidity and expanding the opportunities available to our matching community."