Reuters has launched a new service that enables banks, hedge funds and other buy-side institutions to access its wholesale foreign exchange price matching community via a prime brokerage model.
The enhanced service, which builds on Reuters' prime brokerage business, will allow institutions to access liquidity and trade on Spot Matching for Reuters. Banks and institutions providing prime brokerage services on Spot Matching on Reuters include ABN AMRO, AIG Financial Products, Bank of America, Barclays Capital, Deutsche Bank, Goldman Sachs, JPMorgan, Rabobank and Royal Bank of Scotland. More than ten prime broker clients are already using the enhanced service.
Prime brokerage trading volumes on Spot Matching for Reuters represent a significant and growing percentage of Reuters spot business. Reuters says its spot matching service is one of the premium sources of liquidity in the interbank market with over 1,100 institutions in 45 countries actively trading in over 30 currency pairs.
The enhanced service augments the suite of Reuters FX products which includes Dealing on Reuters, Spot and Forwards Matching on Reuters, FXMarketSpace on Reuters and Reuters Trading for Foreign Exchange.