Thomson Reuters and Credit Suisse have added Credit Suisses Advanced Execution Services (AES) foreign exchange algorithms to the Reuters Trading for Foreign Exchange (RTFX) platform. This move supports the increasing use of programmatic trading in the foreign exchange (FX) industry.
Starting in June 2008, RTFX users will be able to access Credit Suisses award winning FX algorithmic strategies to increase productivity, reduce market impact and enhance execution performance. Banks, corporates, hedge funds, asset managers and other financial market participants will be able to access Credit Suisses FX algorithms through RTFX.
Integrating AES FX in to RTFX and partnering with Thomson Reuters made perfect sense for Credit Suisse both in terms of distribution and global reach. We are pleased that RTFX is now able to provide its global network of clients with access to our award winning execution algorithms. RTFX customers will now be able to select trading strategies that have been designed to optimise execution performance in a wide range of market conditions and will benefit from the transparency of our execution performance reporting, says Jonathan Wykes, head of FX Sales Europe, AES.
The addition of Credit Suisses AES service on RTFX increases the efficiency of currency trading for buy side community.
Thomson Reuters also announced two key enhancements to RTFX to improve clients trading workflow.
RTFX Price Takers can now quickly and easily issue a competitive request for quote for SPOT and FX Swaps to multiple banks simultaneously. The service supports both standard tenors and broken dates.
From June 2008, RTFX customers will benefit from the “Auto Trade” capability. Auto Trade displays streaming executable prices from multiple banks in a single price grid. The users can Fast Trade from the price grid or place orders to manage when deals are entered into the market. Auto Trade manages clients orders within the RTFX environment ensuring that their market interest remains confidential.
The addition of the Credit Suisse AES FX service will further enhance the trading capabilities available over RTFX. Financial participants can utilise the AES execution algorithms and smart order routing capabilities to optimise their execution performance. Credit Suisse can leverage Thomson Reuters global distribution footprint and sales organisation to quickly and efficiently on-board new clients to the service, added Seamus O’Sullivan, global head of sales, RTFX.