Reuters takes Cognotec's top spot
BEST BANK AWARDS 2005
The rise to the top was driven by the expanded client base that Reuters has achieved in the past few years. Since Reuters acquired AVT Technologies in December 2002, the merged companies' technology has continued to gain traction among the wider banking community. In the last two years alone, Reuters has picked up an impressive 40 new customers.
The majority of its new clientele has come in via its hosted service that Jas Singh, business development manager at Reuters in London, said is about making technology at an affordable level for all. With the dynamically evolving nature of the ecommerce space, having a scaleable platform has become ever more crucial, he added.
The company's success is underpinned by Reuters Electronic Trading - Automated Dealing (RET-AD), its bank-to-customer internet trading platform. RET-AD has not only been used as the basis for banks to serve clients, but also in alternative liquidity pools.
"What they are buying is more than just automated dealing technology," said Singh. "They are future proofing their electronic path."
A key indication of the widespread acceptance of the technology came at the end of last year when the China Foreign Exchange Trade System (Cfets), a subsidiary of the People's Bank of China, signed up Reuters to develop a global foreign exchange trading system for it and its member banks (FX Week, October 18, 2004).
Cfets launched the market in May this year deploying a customised version of RET-AD for the trading in non-renminbi crosses (FX Week, April 11).
Meanwhile, Reuters used the RET-AD as the basis of its buy-side initiative Reuters Trading for Foreign Exchange launched earlier this year (FX Week, May 30).
Saima Farooqi
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact customer services - www.fx-markets.com/static/contact-us, or view our subscription options here: https://subscriptions.fx-markets.com/subscribe
You are currently unable to print this content. Please contact customer services - www.fx-markets.com/static/contact-us to find out more.
You are currently unable to copy this content. Please contact info@fx-markets.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@fx-markets.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@fx-markets.com
More on Awards
Best trading platform for retail: OCBC Bank
OCBC diversifies its FX offering with more currencies and 24/7 trading to meet the increasingly sophisticated needs of retail and SME clients
FX house of the year Singapore and FX house of the year Malaysia: OCBC Bank
As cross-border international trade and investments gather pace in Southeast Asia, OCBC empowers its clients with a suite of bespoke FX products and services to support its clients in the region
Asia FX Awards 2024: The winners
The FX Markets Asia FX Awards present 43 categories, determined by an esteemed judging panel comprising industry experts and FX professionals across Apac. They have paid attention to firms that brought unique and innovative ways to fulfil industry needs…
Best blockchain technology service provider: Talos
By building a robust ecosystem with a blueprint based on traditional asset classes, Talos has attracted a network of the most important institutional players to its digital asset trading platform
HSBC wins six Apac FX house of the year awards
With one of the strongest footprints in the Asia-Pacific region (Apac), HSBC provides international clients with an extensive local FX franchise while facilitating local clients’ access to international markets
Best FX prime broker and Best compression/optimisation service for FX: HSBC
With one of the largest FX networks worldwide – and strong coverage in Asia and other emerging markets – HSBC’s FX prime brokerage remains a strategic partner to key financial institutions
Best aggregator and Best FX analytics provider: oneZero
oneZero continues its rapid growth as FX brokers, banks and non-banks in Asia and beyond benefit from the advanced features its multi-asset trading and analytics technology provide
Firms seek optimisation gains as UMR and SA-CCR bite
A wider range of market participants is taking advantage of service providers such as OSTTRA’s optimisation cycles to drive margin and counterparty credit risk efficiencies across asset classes including FX, rates, equities, commodities and credit