Zurich Cantonal Bank, the first Swiss bank to join RTFX, has also signed up for Reuters Electronic Trading – Automated Dealing to support its e-commerce needs.

Zurich Cantonal Bank, one of the leading FX liquidity providers in Switzerland and central Europe with an AAA rating, brings its core strength in Swiss franc and the other major currencies to the Reuters Trading for Foreign Exchange (RTFX) platform. Initially, Zurich Cantonal Bank will target inter-bank customers in Europe, Middle East and Asia and buy-side customers in Europe. Zurich Cantonal Bank's prices will be fed to the RTFX platform using the Reuters Electronic Trading – Automated Dealing pricing engine.

Daniel Corbaz, Director and Head of FX at Zurich Cantonal Bank, commented: "Reuters Trading for Foreign Exchange allows us to offer our clients additional access to our FX services and leverage the global Reuters footprint to serve our customer base in the German speaking part of Europe, Middle East and Asia with attractive FX pricing and extend it globally. These will be provided by the Reuters Electronic Trading rate engine from Reuters and will give us the best in class prices to compete successfully in the FX e-trading markets."

RTFX allows banks and their customers to trade foreign exchange from their Reuters desktop. Zurich Cantonal Bank will go live in March and bring banks, corporate and other financial participants using Reuters desktops the ability to trade 13 currency pairs 24- hours a day with the triple A rated bank. Zurich Cantonal Bank's move raises the total number of banks supporting RTFX to 25 – with 10 already live on the service.

Tarun Anand, Global Head of Treasury Services, Reuters, said: "Zurich Cantonal Bank joins a growing list of major FX banks including Barclays Capital and Deutsche Bank and adds to the excellent level of momentum behind RTFX. Zurich Cantonal Bank will benefit from the combination of the market leading RET-AD technology and vast distribution of RTFX allowing them to reach new price takers throughout Europe and Asia."

RTFX brings financial market professionals the ability to quickly and securely execute spot and forward FX and manage post trade processing through a single sign-on, utilising Reuters unrivalled global desktop footprint in the FX marketplace. This capability is supported by the comprehensive, real time news and powerful analytics from Reuters 3000 Xtra and Reuters Dealing 3000 terminals, at no additional cost, allowing price takers to effectively manage their trading positions.