Chinese banks to use Reuters FX system
(21 February 2006 – China) Four major Chinese banks and Canada’s Bank of Montreal have inked a deal to use Reuters’ foreign exchange electronic trading system.
Bank of China, Bank of Communications, China Construction Bank and Industrial and Commercial Bank of China will all use the Reuters Dealing 3000 Matching service.
Bank of Montreal, which conducts onshore foreign exchange forward trades in the Chinese currency, will also use the system.
China’s Foreign Exchange Trade System engaged Reuters to put an electronic system in place for FX pairs in a bid to modernise China’s banking environment in the run up to the opening up of China’s financial markets.
Reuters did not provide any financial details of the deal.
Some 18,000 FX traders across 4,000 organisations use Reuters FX trading system.
Bank of Montreal, which conducts onshore foreign exchange forward trades in the Chinese currency, will also use the system.
China’s Foreign Exchange Trade System engaged Reuters to put an electronic system in place for FX pairs in a bid to modernise China’s banking environment in the run up to the opening up of China’s financial markets.
Reuters did not provide any financial details of the deal.
Some 18,000 FX traders across 4,000 organisations use Reuters FX trading system.
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