New York - Reuters (LSE: RTR), the global information company, today announced that Merrill Lynch has installed and gone live with Reuters new automated foreign exchange (FX) dealing platform, Reuters Electronic Trading - Automated Dealing (RET-AD). The agreement marks the first bank to go live with Reuters new automated dealing platform following its acquisition of AVT Technologies Ltd.
Under the agreement, Merrill Lynch is using Reuters automated dealing platform to provide its global customers with automated FX prices and trading capability. This means that Merrill Lynch's financial institutions, banks, large corporate and retail brokerage network customers can conduct FX trades electronically whether they access Merrill Lynch through a multi-bank portal such as FXAll or Currenex, or through Merrill's single dealer institutional portal MLX. Merrill Lynch has also licensed the RET-AD trading technology, or application programme interface (API), which allows their retail brokerage network to conduct FX trades and interface electronically with their clients using existing internal Bank systems.
Reuters Automated Dealing Technologies business specialises in providing leading-edge technology to financial institutions and their customers to conduct FX and money market transactions in a real-time environment over the Internet. The group has provided Automated Dealing Technologies solutions to over 50 leading global financial institutions including ABN AMRO, Bank of America, Bank of New York, Dresdner Kleinwort Wasserstein, HSBC, amongst others.
"The FX marketplace is extremely competitive and selecting leading edge technology that can grow to meet new business needs is critical, we're pleased they turned to Reuters for a robust and flexible FX solution.
With Reuters automated dealing platform, Merrill Lynch's interbank and corporate clients can easily trade over the platform of their choice,"
said Mark Redwood, Managing Director, Reuters Automated Dealing Technologies.
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Yvonne Diaz
Reuters Corporate Communications
Tel: +44 20 7542 2615
Mobile: +44 7990 560 615
yvonne.diaz@reuters.com
Kyle Arteaga
Reuters Corporate Communications - NY
Tel: +1 646 223 5222
kyle.arteaga@reuters.com
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