Patsystems, the global supplier of electronic trading technology and exchange technology, has launched an interface that provides its customers access to CME FX on Reuters, a service which allows banks to trade CME foreign exchange (FX) futures products through the Reuters Dealing 3000 system.
The CME FX on Reuters service was launched in March 2005, following the agreement signed between CME and Reuters in 2004.
Two of Patsystems' global clearing customers, including Skandinaviska Enskilda Banken AB, went live with the Patsystems developed interface this week. Others are expected to adopt the service in the future.
Patsystems entered the FX market at the end of 2003, adding spot foreign exchange to futures and options - its core assets. With multi-asset execution increasingly the goal for trading platforms, Patsystems is keen to extend its technology into new areas and to develop electronic trading beyond its traditional markets.
Commenting on the launch of the new order routing capability, Patsystems CEO Kevin Ashby said: "We have a long-standing relationship with CME and are therefore delighted to be a technology enabler for its partnership with Reuters. Our trading platform now has the power and versatility to make the most of electronic opportunities across a wide range of asset classes and markets."