As it looks to extend client access to its FX services, Zurich Cantonal Bank has become the first Swiss bank to go live on Reuters Trading for Foreign Exchange.
Bringing its core strength in Swiss franc and other major currencies to the Reuters Trading for Foreign Exchange (RTFX) platform, Reuters says Zurich Cantonal Bank will initially target inter-bank customers in Europe, Middle East and Asia and buy-side customers in Europe. Reuters claims Zurich Cantonal Bank’s prices will be fed to the RTFX platform using the Reuters Electronic Trading – automated dealing pricing engine.
According to the global information company, Reuters, RTFX allows banks and their customers to trade foreign exchange from their Reuters desktop. Zurich Cantonal Bank is expected to 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.
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.
Reuters says the bank’s move raises the total number of banks supporting RTFX to 25 – with 10 already live on the service.