RBS inks online FX agreement with Easy-Forex
03 November 2005 | 2492 views | 0
Source: Royal Bank of Scotland
The Royal Bank of Scotland (RBS), Financial Markets and Easy-Forex Ltd. have just announced a liquidity and technology agreement in the area of online foreign exchange and derivatives trading.
RBS is providing liquidity and acting as a prime broker for Easy-Forex, while the services provided by RBS's technology platform have been integrated onto the Easy-Forex Trading platform. This allows Easy-Forex Ltd. to minimise costs and maximise processing efficiency costs for the benefit of its traders and investors.
The world coverage of Easy-Forex Trading platform, as well as its innovative, secure and user-friendly technology, has made it a world leader in the forex industry. Its clientele includes medium-sized financial institutions and organisations as well as private individuals.
Unlike all other online trading platforms, Easy-Forex eliminates the need to download proprietary software, fill out tedious forms, open a bank account or deposit money in advance. It is the only trading platform that enables users to start deals immediately.
The agreement is therefore a good fit for RBS as the bank is a well-known world leader in foreign exchange liquidity provision. In the UK mid-market RBS serves the full spectrum of corporate and commercial customers and is the UK's No.1 corporate relationship bank, with 33% market share.
Streamline, a service provided by a member of The Royal Bank of Scotland Group, covers the credit card transactions made by Easy-Forex's customers in various currencies. Streamline is the leading provider of merchant accounts in Europe. It gives businesses the ability to accept credit and debit card payments face to face, by 'phone or online.
Commenting on the partnership Tom Roche, Global Head of Financial Markets, eCommerce said: "RBS, Financial Markets is pleased to have entered into an agreement with Easy-Forex Ltd. As it is a leading provider of foreign exchange and derivatives trading, we see a strong synergy with our eCommerce strategy."
O.Y. Komem, CEO, the Easy-Forex Ltd. group, said: "The agreement provides further operational capabilities and outreach for us as well as ensuring stability in all operational functions. The new co-operation supports Easy-Forex Ltd. in maintaining its leadership position in the global market."