FXall, the foreign exchange trading platform, says Commonwealth Bank of Australia, Fortis Bank, SvenskaHandelsbanken and WestLB have joined its system. In all, 43 banks are now plugged into FXall.
“We sought a portal that would enable our clients to trade foreign exchange more efficiently than ever before,” says Peter Coad, Global Head of Trading and Product Management, Commonwealth Bank of Australia. “FXall’s fully automated model met all our key requirements, and that is why we made a commitment to integrating fully with the portal. We are very pleased to now be trading live on FXall.”
Lars Henriksson, Head of Treasury Sales, SvenskaHandelsbanken, adds: “As a top rated bank, we are keen to continue our expansion outside the Nordic market. By joining FXall, we will now be able to promote our service in majors and scandies, as well as emerging currencies, to a tremendous client base. Another important factor in our decision to integrate with FXall was the security of the system, and FXall’s commitment to maintaining strict confidentiality of data.”
Today’s announcement comes as FXall published new statistics on the response rate of its automated system. It says atht at present more than half of all client price requests are answered within one second of the request.
“We are very pleased to welcome our new liquidity providers who have all demonstrated a strong commitment to the innovation of the foreign exchange market by integrating with FXall’s system,” says Phil Weisberg, Chief Executive Officer of FXall. “As today’s statistics on response rate demonstrates, FXall is in a unique position to enable clients to reap the full benefits of automation and integration.”