FXMarketSpace, a centrally-cleared, global foreign exchange (FX) platform for the over-the-counter market, today announced that it is fully operational and open for trading. The on-schedule launch comes just 11 months after Reuters and CME announced the creation of FXMarketSpace in May 2006.
A total of 12 clearing prime brokers are already live on FXMarketSpace, so their customers can start to trademmediately. An additional eight are joining. Reuters and CME say customers have successfully tested both their ability to connect to and use FXMarketSpace, and more recently have started to trade actively in a live environment.
“The development of a centrally cleared FX trading platform for the OTC market allows us to both extend our product offering to existing customers and attract new entrants to our Prime Brokerage business,” says Brian Duff, Head of Prime Brokerage at RBS.
Today, 76 customers are either live or in the process of joining, significantly ahead of initial
expectations. Some of the participating banks and prime brokers include ABN Amro, Bank of America, Barclays Capital Prime Services, Bear Stearns Forex, Calyon Financial, Citigroup,
Credit Suisse, Deutsche Bank FX Prime Brokerage, PMorgan, Penson GHCO, Prudential Financial/Bache Financial, Rand Financial Services, RBS, Societe Generale Corporate & Investment Banking and UBS.